Supreme Court of India · 1997-12-10
UNITED BANK OF INDIA vs B T W INDS LTD
- Citation / case number
- SC 1997/6660
- Court
- Supreme Court of India
- Petitioner
- UNITED BANK OF INDIA
- Respondent
- B T W INDS LTD
- Author
- S.C. AGARWAL
- Bench
- S. RAJENDRA BABU S.C. AGARWAL
Judgment text excerpt
The Supreme Court addressed appeals from the Calcutta High Court regarding the appointment of a Receiver and the terms of decrees in suits filed by the United Bank of India under the provisions of the Code of Civil Procedure. The Court held that the High Court's rejection of the Bank's applications for further orders was erroneous, emphasizing the need for effective enforcement of decrees and the appointment of experts for asset valuation. The Court directed that the Special Officer should take possession of the assets and ensure compliance with the payment terms stipulated in the decrees.