Supreme Court · 2006 INSC 502 · Decided 8 August 2006
National Textile Corporation (Gujarat) v. State Bank of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2006 INSC 502 · [2006] SUPP. 4 S.C.R. 411
- Case number
- CIVIL APPEAL No. 2314/2000
- Decided
- 8 August 2006
- Bench
- S.B. SINHA, P.P. NAOLEKAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Sick Textile Undertakings (Nationalisation) Act, 197 4-Sections 5, 21 and 22; Second Schedule-Bombay Relief Undertaking (Special Provision) A B Act, 1958-Section 4-Jndustries (Development and Regulation) Act, 1951- C Section 18(1)-Takeover of management of a sick textile company-Claims by Banks facilities extended to the company in pre and post takeover period­ Commissioner admitted only part of the claims under Categories I and IV of the Second Schedule and disallowed the remaining claims-Trial Court dismissed the claims by the Banks but upheld by High Court-Correctness D of-Held,
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