Supreme Court · 2005 INSC 549 · Decided 8 November 2005
M/S. Amar Alcoholi LTD. v. Sicom LTD. and ANR.
- Court
- Supreme Court of India
- Citation
- 2005 INSC 549 · [2005] SUPP. 5 S.C.R. 31
- Case number
- CIVIL APPEAL No. 5502/2004
- Decided
- 8 November 2005
- Bench
- ASHOK BHAN, ALTAMAS KABIR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act
Headnote
B State Financial Corporation- Recove1y of Debts-State Financial Corporation Act 1951, secTions 2'9,46-Appellant taking loan from Respondent, a financial corporation with 100% share holding by State C Government-Subsequently, share of state government reducing to 49'Ycr­ Appe//ant failing to under section 29- Appel/ant filing writ petition contending that respondent ceased to be a financial corporation due to reduction in state's share to 49% and hence could not invoke section 29-High Court dismissing the writ petition-On D appeal-Held, Respondent continued to be a financial
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