https://www.taxtmi.com/caselaws?id=103575 The High Court of Rajasthan granted leave to a bank to initiate debt recovery proceedings before the Debt Recovery Tribunal, New Delhi, under section 446(1) of the Companies Act. The court emphasized the importance of considering specific facts and circumstances when granting leave to secured creditors, balancing their interests with those of other creditors. Various conditions were imposed on the bank, including obligations towards workmen, updates to the Official Liquidator, and seeking permission for execution proceedings. The judgment highlighted transparency, accountability, and protection of all parties' interests in the debt recovery process. en-us Sat, 17 Jan 1998 00:00:00 +0530 Thu, 23 Feb 2012 17:44:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103575 The High Court of Rajasthan granted leave to a bank to initiate debt recovery proceedings before the Debt Recovery Tribunal, New Delhi, under section 446(1) of the Companies Act. The court emphasized the importance of considering specific facts and circumstances when granting leave to secured creditors, balancing their interests with those of other creditors. Various conditions were imposed on the bank, including obligations towards workmen, updates to the Official Liquidator, and seeking permission for execution proceedings. The judgment highlighted transparency, accountability, and protection of all parties' interests in the debt recovery process. Case-Laws Companies Law Sat, 17 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103575