PUNJAB FINANCIAL CORPORATION Vs. MASTER RUBBER FACTORY
LAWS(P&H)-1994-12-95
HIGH COURT OF PUNJAB AND HARYANA
Decided on December 12,1994

PUNJAB FINANCIAL CORPORATION Appellant
VERSUS
MASTER RUBBER FACTORY Respondents

JUDGEMENT

- (1.) I have heard the learned counsel for the parties and have perused the application filed by the petitioner applicant under section 1 Rule 10 read with Section 151 C.P.C. seeking permission of the Court to be impleaded as one of the defendants. From the application filed under section 1 Rule 10 C.P.C., I find that the applicant Corporation had also advanced loan to the defendant M/s Master Rubber Factory and the said defendant had even mortgaged the factory with the applicant Corporation. The applicant wanted to become a party to these proceedings with a view to safeguard the interest of the Corporation. In view of the facts stated in the application, I am of the opinion that the impugned order dated 5.5.1997 passed by the learned trial Court cannot be sustained. Accordingly, I set aside the impugned order dated 5.5.1997. Consequently, the application filed by the petitioner/applicant Corporation u/o 1 Rule 10 CPC before the learned trial Court stands allowed. The prayer of the petitioner for restraining the local commissioner appointed to prepare the inventory of the properties of the applicant is, however, rejected.;


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