STATE BANK OF MYSORE Vs. CITY HOSPITAL DIAGNOSTIC CENTRE P LTD

JUDGEMENT

(1.) THIS is a petition filed under section 141 of the Companies Act, 1956 ('the Act') by the petitioner-bank against City Hospital & Diagnostic Centre (P.) Ltd. ('the Company') and the Registrar of Companies, Karnataka, Bangalore seeking the following reliefs :

(2.) The facts, in brief, are that the petitioner-bank had extended financial assistance in favour of the company to the tune of Rs. 50 lakhs against security of (i) hypothecation of plant and machinery; and (ii) equitable mortgage of land and building created on 11-8-1999. Form Nos. 8 and 13 containing particulars of the charge forwarded by the petitioner-bank, however, without filing fee was received at the office of the second respondent on 25-8-1999, within the prescribed period of 30 days under section 125. The requisite filing fee was remitted by the petitioner-bank on 7-12-1999, after a delay of 88 days. According to the second respondent mere filing of Form Nos. 8 and 13 without filing fee is not a proper compliance with the provisions of section 125 and the delay of 88 days has to be condoned by the CLB under section 141. This is challenged by the petitioner-bank. Hence the petition,