Supreme Court · 1993 INSC 319 · Decided 6 October 1993
United Bank of India v. The Official Liquidator and ORS.
- Court
- Supreme Court of India
- Citation
- 1993 INSC 319 · [1993] SUPP. 3 S.C.R. 1
- Case number
- CIVIL APPEAL No. 405/1986
- Decided
- 6 October 1993
- Bench
- KULDIP SINGH, S.P. BHARUCHA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 535
Headnote
B " Cdmpanies Act, 1956, Section 535-lntent and meaning of-To protect the creditors of the company in liquidation-Onerous covenants imposing heavy burden upon company-Court to satisfy itself about the existence of c such covenants before granting leave to disclaim them-Purchaser claiming liquidator sells property under orders of court-He does not hold out any guarantee or warranty in respect of such property The appellant-Bank filed a suit against a company in liqudation for D a decree in the sum of Rs. 1,81,07,623.64 owed to it by the company with interest. Upon the
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)