Union Bank of India v. Nakshatra Steel Sales & Services Ltd.

Delhi High Court · 18 Jul 2017 · 2017:DHC:3645
Hima Kohli; Deepa Sharma
CO.APP. 9/2017
2017:DHC:3645
civil appeal_dismissed

AI Summary

The High Court allowed Union Bank of India to withdraw its appeal against a company petition order while reserving the right to seek appropriation of funds before the Company Judge.

Full Text
Translation output
CO.APP. 9/2017
HIGH COURT OF DELHI
CO.APP. 9/2017 & CMs 25004-06/2017
UNION BANK OF INDIA ..... Appellant
Through : Mr. Janendra Lal with Ms. Yasmin Tarapore, Advocates
VERSUS
NAKSHATRA STEEL SALES & SERVICES LTD. & ORS. ..... Respondents
Through : None.
CORAM:
HON'BLE MS. JUSTICE HIMA KOHLI
HON'BLE MS. JUSTICE DEEPA SHARMA O R D E R 18.07.2017
JUDGMENT

1. The appellant/Bank is aggrieved by the order dated 19.5.2017 passed by the learned Company Judge in CCP (CO) No.10/2014 filed by the respondent No.1.

2. After addressing arguments for some time, learned counsel for the appellant/Bank seeks leave to withdraw the present appeal, while reserving the right of the appellant/Bank to approach the learned Company Judge with an application seeking appropriation of a sum of Rs.4.00 crores that has been directed to be kept separately in a no lien account. 2017:DHC:3645 CO.APP. 9/2017

3. Leave, as prayed for, is granted. The appeal is dismissed as withdrawn, along with the pending applications. HIMA KOHLI, J DEEPA SHARMA, J JULY 18, 2017 sk