Supreme Court · 2003 INSC 147 · Decided 5 March 2003
International Coach Builders LTD. v. Karnataka State Financial CORPN.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 147 · [2003] 2 S.C.R. 631
- Case number
- CIVIL APPEAL No. 4702/1994
- Decided
- 5 March 2003
- Bench
- RUMA PAL, B.N. SRIKRISHNA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Transfer of Property Act Section 69; Companies Act Section 529, 529A
Headnote
B State Financial Corpr,ration Act, 19511 Companies Acr, 1956 -Sections 29 and 468/Sections 433, 529 and 529A-Right a/State Financial Corporation under Section 29 to sell and resell-Exercise of--Without reference to Company C Court-When winding up order made against the debtor-Company-Held, State without reference of the Court in case of Company in a winding up, in view of pari passu charge of the workmen created by the proviso to Section 529 of Companies Act-The i-ight can be exercised only with the consent of the Official Liquidator reprcse1:ting workmen for their pari passu
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