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2007 Supreme(Online)(SC) 226

SUPREME COURT
A.M. Khanwilkar, Ajay Rastogi, JJ
Central Bank of India v. Siriguppa Sugars & Chemicals Ltd. and Others


Advocates:
For the Appellants/Petitioners: [Counsel for the Appellant - Bank]
For the Respondents:[Counsel for the First Respondent - Company]

Table of Content
1. interim orders should respect pawnee rights. (Para 2 , 3 , 4)
2. parties argue over creditor prioritization. (Para 5 , 6)
3. pawnee's entitlement is superior to unsecured claims. (Para 7 , 9 , 10 , 11)
4. court emphasizes established legal principles. (Para 17 , 18)
5. court orders set aside previous interim order. (Para 19)

1. Leave granted.

2. These appeals challenge the interim order passed by the Division Bench of the High Court in a pending writ appeal, directing disbursement of certain amounts realised on sale of stocks of sugar, owned by the first respondent - company held under pledge by the appellant - bank. The Labour Commissioner had passed an order under S.33(c) of the Industrial Disputes Act against the first respondent company in respect of the dues to the workmen. The same was challenged by the first respondent in the writ petition as also by others. Similarly the Cane Commissioner had passed orders for recovery of amounts due from the first respondent - company for being paid to the sugarcane growers for the cane supplied by them to the first respondent - company. During the pendency of the writ petition, the recovery authority had taken possession of s
























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