Supreme Court · 2008 INSC 727 · Decided 16 May 2008
M/S. Bakemans Industries PVT. LTD. v. M/S. New Cawnpore Flour Mills and Others
- Court
- Supreme Court of India
- Citation
- 2008 INSC 727 · [2008] 9 S.C.R. 705
- Case number
- CIVIL APPEAL No. 3628/2008
- Decided
- 16 May 2008
- Bench
- S.B. SINHA, V.S. SIRPURKAR (2-judge bench)
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 433, 529
Headnote
Companies Act, 1956 - ss. 433, 529 A and 457 -Finan- cier initiating action against defaulting company under State Financial Corporation Act, 1951 - Court permitting the Finan- c cier to hold sale of the proceeds of the defaulting company - Simultaneous proceedings of winding of the Company before company court- Subsequently, Financier sub- miffing itself to the jurisdiction of company court - Sale held under supervision of the company court in disregard to the D provisions of Companies Act - Propriety of - HELD: Order of ·~ Company court is unsustainable - The order of
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