- (1.) Leave granted.
(2.) Appellant herein is a Government company. It is engaged in conduct of chitties. M/s. Concert Capital Limited together with its sister concern M/s. Concert Securities Limited took loan from it. They failed to repay the said loan. A recovery proceeding was initiated against the defaulting company under the Kerala Revenue Recovery Act, 1968 . A notification was issued in that behalf in terms of Section 71 thereof.
(3.) The properties belonging to the defaulting company were attached. In the meanwhile, the Company went for voluntary liquidation. A provisional liquidator was appointed. Appellant was informed thereabout. In the pending company proceeding being C.A. No. 165 of 2001, appellant filed an application seeking leave to proceed with the sale of the properties, which was objected to, inter alia, on the premise that the charge in respect of the alleged debt was not registered with the Registrar of Companies and, thus, it was an unsecured crediton A counter-affidavit thereto was filed by respondent. A prayer was also made by the official liquidator for a direction upon appellant to surrender the original documents. The application for leave to proceed with the revenue recovery proceeding was rejected by the learned Single Judge of the High Couri by its order dated 28th November, 2003. An appeal thereagainst being Company Appeal No. 14 of 2004 preferred by appellant was dismissed by a Division Bench of the High Court. Appellant is, thus, before us.;