Supreme Court · 2019 INSC 1156 · Decided 17 October 2019
Idbi Bank Limited Through DGM (Legal) v. The Official Liquidator, Office of the Official Liquidator of Companies & ANR.
- Court
- Supreme Court of India
- Citation
- 2019 INSC 1156 · [2019] 15 S.C.R. 549
- Case number
- SPECIAL LEAVE PETITION (CIVIL) No. 33825/2009
- Decided
- 17 October 2019
- Bench
- MOHAN M. SHANTANAGOUDAR, AJAY RASTOGI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 293, 531
Headnote
Company (Court) Rules, 1959: rr.96, 99, 24 and 101 - Winding up petitions, advertisement - Mandatory requirement - Held: The advertisement of a winding up petition is mandatory - However, if the advertise the petition within the prescribed time, r.101 accords discretion to the court to substitute such petitioning creditor with another creditor or contributory, if latter is capable and desirous of prosecuting the winding up petition - In the instant case, no such advertisement was
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