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2010 Supreme(Mad) 112

M.CHOCKALINGAM, T.RAJA
T. Narayanan & The Official Liquidator High Court, Madras, As the Liquidator of Sri Visalakshi Mills Pvt. Ltd. – Appellant
Versus
Indian Bank, Madurai & Others – Respondent


Advocates appeared:
For the Appellant:T.R. Rajagopalan, Senior Counsel, for Mr.T.K.Bhaskar For the Respondents:Mrs. K. Latha Parimalavadana, Asst. O.L., Jayes Dolio for M/s. Aiyar & Dolia, K.S. Viswanathan, R. Krishnamurthy, Senior Counsel for C. Kathiravan, K. Srinivasamurthy, G.R. Lakshmanan, Advocates.

Judgment :-

M. CHOCKALINGAM, J.

These three intracourt appeals have arisen from the orders of the learned Single Judge of this Court made in Company Application No.2107 of 2008 and Company Application Nos.1238 and 1239 of 2009 respectively.

2.The Court heard the learned Counsel on either side.

3.C.A.No.1238 of 2009 was filed to stay all further proceedings in the auction, while C.A.No.1239 of 2009 was to set aside the auction proceedings under the following facts and circumstances:

(a) Seeking winding up of the company, the first respondent therein made CP No.78 of 2008 on the ground that a sum of Rs.8,79,035/- was due as on 212. 2007, and the company was unable to pay the same. The applicant could not pay the amount immediately on receipt of the summons; but the applicant has made part payments to the first respondent on various dates and has settled the entire amount due to the first respondent in full quit, and a sum of Rs.45000/-was paid to the Counsel for the first respondent on 28. 2009, in the open Court as last balance. Under such circumstances, the above company petition was not pressed.

(b) Theapplicant was also ready and willing to deposit the amount due to the Official L

























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