BIMAL CHANDRA BASAK, J.

( 1 ) THIS appeal is directed against the order dated August, 1989, passed by the learned trial Judge in C. P. No. 141 of in Re: Textile Processing Corporation of India Ltd. , (hereinafter Ted to as the said petitioner ). This appeal is preferred by the Industrial Reconstruction Bank of India (hereinafter referred to as the I. R. B. I.) facts of this case are as follows. In the winding up petition by the petitioning creditor, the appellant herein, an order of the Board for Industrial and Financial Reconstruction (hereinafter referred to as the Board) instituted under the Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred in as the 1985 Act) was placed before the Court. It is stated in their petition as follows :"2. On diverse dates the appellant had granted various amounts of loan to the respondent No. 1 and as on 30th June, 1989, the respondent No. 1 was liable to pay to the appellant the sum of Rs. 4,28,65,000 as principal and the sum of Rs. 2,55,41,039. 33 Paisa as the interest as on 30th June, 1989 the total being Rs. 6,84,06,039. 33 Paise. Further interest, is accruing from day to day. All the assets of the respondent No. 1

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