Hon’ble Sunil Ambwani, J.—Sri P.K. Jain, learned Senior Advocate assisted by Sri Raj Kumar Tiwari appear for the applicant M/s. Chopra Fabricators and Manufacturers Pvt. Ltd. Sri Om Prakash Mishra, appears for the petitioner-M/s. Kotak Mahindra Bank Ltd.

2. On 23.10.2009 the matter was directed to be listed for hearing on the question of maintainability of the company petition, in that, whether the debts of M/s. Chopra Fabricators and Manufacturers Pvt. Ltd (hereinafter referred to as ‘the company’) could be validly assigned by State Bank of India to the petitioner - M/s. Kotak Mahindra Bank Ltd and on the basis of such assignment, a winding up petition can be filed.

3. An interim order was passed by the Court on 23.10.2009 restraining respondent company and its Directors, Officers or Agents from transferring, alienating and or creating any third party interest on the mortgaged assets.

4. The applicant-respondent company is alleged to be indebted to the State Bank of India a sum of Rs. 14,30,70,934/- against the cash credit facility, term loans and interest. The State Bank of India assigned the debts with all its rights, title, interest and benefits in relation to the the a