TaxTMI 
TaxTMI 
2012 (8) TMI 412
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....h and Saji P. John for the Respondent. ORDER 1. The applicant-Karnataka State Financial Corporation ('K.S.F.C.', for short) has filed the instant application under Rule 9 of the Company Court Rules. By the said application, the applicant has prayed that the respondents be directed to cancel the sale of the property of the M/s. Mysore Tissues Pvt. Ltd., which is mortgaged to the applicant-Cor....
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....e 2nd respondent K.S.I.I.D.C, had also financed the 1st respondent. In that regard, there is a contention on behalf of the parties that the lending to the 1st respondent is by way of consortium consisting of the applicant herein, the 2nd respondent herein and also the State Bank of India and Industrial Re-construction Bank of India. 5. The grievance of the applicant at present is that the windi....
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.... 6. The respondents herein have disputed the contention of the applicant and have contended that the property belonging to the 4th respondent herein also form a part of the properties which were charged to the 2nd respondent as well as the applicant herein and since the lending was by a consortium the properties were liable to be sold and accordingly, the same has been sold by the K.S.I.I.D.C. Af....
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....hat the applicant cannot make out any grievance in the instant application inasmuch as they have concerned to the entire process of sale by K.S.I.I.D.C., I am of the opinion that the merits of the contentions in that regard need not be adverted to in detail. At this juncture, I am of the said opinion for the reason that when the application in C.A. No. 394/2006 was filed by the K.S.I.I.D.C., befor....