M/S Bakemans Industries Pvt.Ltd vs M/S New Cawnpore Flour Mills & Ors

The Supreme Court addressed the jurisdictional conflict between a Company Court and a Financial Corporation regarding the sale of a company's property under Section 29 of the State Financial Corporations Act, 1951. The Court held that the power of the Company Court to sell property does not merge with that of the Financial Corporation, emphasizing the distinct roles of each entity in insolvency proceedings. The appeal was dismissed, affirming the lower court's decision and clarifying the legal framework governing such disputes.