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2017 Supreme(Mad) 2452

RAJIV SHAKDHER, ABDUL QUDDHOSE
Pradeep D. Kothari, Chairman, Kothari Orient Finance Ltd. – Appellant
Versus
IDBI Bank Limited – Respondent


Advocates:
Advocate Appeared:
For the Appellant : Mr. P.V. Balasubramaniam for Mr. T. Mahendran
For the Respondents: Mr. T.K. Seshadri, for M/s. Shivakumar, Suresh, Mr. S.R. Sundar

JUDGMENT :

Rajiv Shakdher, J.

1. This is an appeal preferred by Mr. Pradeep D. Kothari, former Chairman of Kothari Orient Finance Limited (in short 'KOFL') , against the judgment and decree dated 04.10.2013, passed by the learned Company Judge, in C.A.No.734 of 2011.

1.1. Pertinently, the application, i.e., C.A.No.734 of 2011 was moved in Company Petition (C.P.)No.179 of 2001.

2. The reason that we chose to highlight this aspect of the matter, right at the outset, as an argument was advanced on behalf of the appellant that the impugned judgment and decree, by which, the Official Liquidator (in short 'the OL'), who was acting as the Provisional Liquidator (in short, 'the PL') was discharged, was passed only in C.P.No.179 of 2001, whereas, on the record of the Company Judge, there is, even now, another petition pending, whereby, winding up of KOFL is sought. In other words, the argument advanced is that dismissal of C.P.No.179 of 2001 will not bring about an efficacious conclusion even from the point view of KOFL.

2.1. We may also note that, the learned Company Judge, while passing























































































































































































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