CENTRAL BANK OF INDIA Vs. SUKHANI MINING AND ENGINEERING

JUDGEMENT

(1.) This is an application filed by the company on the 7th of April, 1976, for dismissing the petition for a winding-tip order filed by a creditor.

(2.) The Central Bank of India, a creditor of the company, filed the petition for winding-up under Section 433(e) of the Companies Act, 1956 (hereinafter referred to as "the Act"), on the ground that the company was unable to pay the debt due to the bank. Before the petition aforesaid was admitted, the company was heard and it filed a show-cause petition. The application was, however, admitted. As against that there was a Letters Patent Appeal which was summarily dismissed. The petition for winding-up is thus awaiting hearing on merits.

(3.) It appears that during the pendency of the application for winding up, the bank filed a suit for realisation of the money, being Title Suit No. 320 of 1975, in the court of the subordinate judge at Patna. In view of that the company has come up with the present application.