Judgment

M. Jagannadha Rao, J.—Leave granted.

2. The case raises issues relating to the impact of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called the RDB Act) on the provisions of the Companies Act, 1956. The immediate dispute before us is between two nationalised Banks, the Allahabad Bank (appellant) on the one hand which has obtained a simple money decree against the debtor-company (M/s. M.S. Shoes (East) Co. Ltd. from the Debt Recovery Tribunal at Delhi under the RDB Act and the Canara Bank on the other, whose claim as a secured creditor is still pending before the same Tribunal at Delhi against the same company. The Allahabad Bank has appealed before us against an order passed by the learned Company Judge under Sections 442 and 537 of the Companies Act, (in a winding up petition by Ranbaxy Ltd.) staying the sale proceedings taken out by the Allahabad Bank before the Recovery Officer under the RDB Act. Applications for winding up the defendant company are pending in the Delhi High Court. As yet no winding up order has been passed nor a provisional liquidator appointed as contemplated by Section 446(1). Point has been ra