KERALA STATE FINANCIAL ENTERPRISES LTD Vs. OFFICIAL LIQUIDATOR HIGH COURT OF KERALA
LAWS(SC)-2006-9-113
SUPREME COURT OF INDIA
Decided on September 29,2006

KERALA STATE FINANCIAL ENTERPRISES LTD. Appellant
VERSUS
OFFICIAL LIQUIDATOR, HIGH COURT OF KERALA Respondents





Cited Judgements :-

CITY UNION BANK LIMITED, KARIMNAGAR BRANCH, REP. BY ITS CHIEF MANAGER AND AUTHORISED OFFICER VS. SUB REGISTRAR AND OTHERS [LAWS(APH)-2018-8-38] [REFERRED TO]
PRIYANKA OVERSEAS PVT. LTD. AND ORS. VS. PASUPATI FABRICS LTD., [LAWS(CL)-2007-2-4] [REFERRED TO]
IFCI LTD VS. O L OF GUJARAT INJECT LTD [LAWS(GJH)-2015-3-248] [REFERRED TO]
CITY CO-OP CREDIT & CAPITAL LTD ; SUNIL RATNAPARKHI VS. OFFICIAL LIQUIDATOR OF M/A SATWIK ELECTRIC CONTROLS PVT LTD [LAWS(BOM)-2019-6-138] [REFERRED TO]
KUNDANMAL DABRIWALA VS. DABRIWALA STEELS AND ENGG. CO. LTD. [LAWS(P&H)-2009-3-169] [REFERRED TO]
CYBERSYS INFOTECH LTD. VS. DISTRICT MAGISTRATE AND ORS. [LAWS(P&H)-2009-3-218] [ REFFERD TO ]
PUNJAB NATIONAL BANK VS. OFFICIAL LIQUIDATOR OF AESCULAPIUS REMEDIES LTD [LAWS(GJH)-2015-3-247] [REFERRED TO]
SURAT METALLICS LTD VS. COMMISSIONR OF CENTRAL EXCISE [LAWS(GJH)-2010-4-4] [REFERRED TO]
NIHARIKA JAIN VS. UNION OF INDIA [LAWS(RAJ)-2019-7-352] [REFERRED TO]
YOGENDRA KUMAR JAISWAL AND ORS. VS. STATE OF BIHAR AND ORS. [LAWS(SC)-2015-12-75] [REFERRED TO]
FORBES AND COMPANY VS. COROMANDEL GARMENTS LTD & ORS [LAWS(BOM)-2018-7-76] [REFERRED TO]
BHARATH GOLD MINES LTD VS. INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA MUMBAI [LAWS(KAR)-2009-7-66] [REFERRED TO]
MACKEIL & COMPANY PRIVATE LIMITED VS. STATE BANK OF INDIA & ORS [LAWS(CAL)-2018-5-67] [REFERRED TO]
CITY UNION BANK LIMITED VS. SUB REGISTRAR, PEDDAPALLI [LAWS(TLNG)-2019-8-83] [REFERRED TO]
SUNIL RATNAPARKHI VS. OFFICIAL LIQUIDATOR [LAWS(BOM)-2019-6-285] [REFERRED TO]
LOIL CONTINENTAL FOODS LTD VS. PUNJAB WIRELESS SYSTEMS LTD [LAWS(P&H)-2008-3-112] [REFERRED TO]
OM CONSTRUCTION & INFRASTRUCTURES VS. STATE OF MAHARASHTRA [LAWS(BOM)-2022-5-133] [REFERRED TO]
IN RE: DABRIWALA STEELS AND ENGINEERING CO. LTD. VS. STATE [LAWS(P&H)-2009-3-164] [REFERRED TO]
DYANI ANTONY PAUL VS. UNION OF INDIA [LAWS(KAR)-2020-12-254] [REFERRED TO]


JUDGEMENT

- (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.


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