1999 (8) TMI 795

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....as filed the present application under section 446 of the Companies Act, 1956, seeking leave to proceed with the application filed under section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, Le., for recovery of Rs. 6,77,75,377 before the Debts Recovery Tribunal, Jaipur. 2. The relevant facts are that the petitioner-bank has filed the application for recovery of....

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....reply on behalf of respondent No. 1. He has pointed out that ex-directors of the company have not yet filed the statement of affairs of the company. Even notice has been issued under section 454 of the Companies Act to the ex- directors. It has no objection to granting of the permission but it is prayed that the Liquidator may be allowed to contest the claim. Notice was issued to the other respond....