Supreme Court of India · 2004-10-07
ALLAHABAD BANK vs BENGAL PAPER MILLS CO. LTD.
- Citation / case number
- SC 1991/76909
- Court
- Supreme Court of India
- Petitioner
- ALLAHABAD BANK
- Respondent
- BENGAL PAPER MILLS CO. LTD.
- Author
- C.I. R.C. LAHOTI,G.P. MATHUR,P.K. BALASUBRAMANYAN
- Bench
- C.J.I. R.C. LAHOTI,G.P. MATHUR,P.K. BALASUBRAMANYAN
Judgment text excerpt
The Supreme Court addressed the winding up of a company under the Companies Act, specifically referencing Section 446, which allows creditors to continue their suits against a company in liquidation. The Court held that the High Court's decisions to allow the Punjab National Bank and other creditors to proceed with their suits and appoint receivers were valid and within the jurisdiction granted by the Companies Act. The outcome affirmed the High Court's orders regarding the management and sale of the company's assets by the Official Liquidator.