R.M.LODHA
Industrial Development Bank of India – Appellant
Versus
Moradabad Syntex Ld – Respondent
2. The Plaintiffs Industrial Development Bank of India, the Industrial Finance Corporation of India Ltd., and the Industrial Credit and Investment Corporation of India Ltd., filed a suit for recovery of amount of over Rs. 10 crores against the defendants Moradabad Syntex Ltd., and others before this Court on 28-10-1994. In the said suit, notice of motion was taken out by the plaintiffs praying therein inter all a that pending the hearing and final disposal of the suit, the Court Receiver, High Court, Bombay or some other fit and proper person be appointed Receiver of immovable properties described in Exhibit A annexed to the notice of motion and movable properties and current assets described in Exhibit B and C to the notice of motion. On 14-12-1994, this Court passed ad-interim order directing that the defendant No. 1 namely Moradabad Syntex Ltd., shall not dispose of suit immovable properties. The order dated 14-12-1994 was challenged in appeal and on 13-3-
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