Supreme Court · 1994 INSC 229 · Decided 11 July 1994
Uco Bank v. The Official Liquidator High Court, Bombay and ANR.
- Court
- Supreme Court of India
- Citation
- 1994 INSC 229 · [1994] SUPP. 1 S.C.R. 294
- Case number
- CIVIL APPEAL No. 816/1992
- Decided
- 11 July 1994
- Bench
- J.S. VERMA, S.P. BHARUCHA (2-judge bench)
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 529, 530, 433
Headnote
UCO BANK v. THE OFFICIAL LIQUIDATOR HIGH COURT, BOMBAY AND ANR. JULY 11, 1994 ,; [J.S. VERMA AND S.P. BHARUCHA, JJ.) Companies Act, 1956: Sections 529, 529-A and 530 (As amended by Companies (Amendment) Act, 1985}-Scope and object of Proviso to Section 529-He/d applicable to a secured its debt D against the Company. In the meantime, by the Companies (Amendment) Act, 1985, Sections 529 and 530 of the Companies Act, 1956 were amended and Section 529-A was inserted. The Proviso added lo Section 529(1) provided that the security of every secured creditor shall be deemed to be
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