2007 (2) TMI 686

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....i And Ds Aff.Not Filed (N) for the Respondent Oral Order 1. The present application is preferred by the applicant for the relief inter alia to step into the shoes of ICICI Bank Ltd. which is one of the secured creditor of the Company in liquidation. 2. Upon hearing Mr. Pahwa for the applicant, Mr. Modi for the OL and Mr. Sanghi for respondent No.2, it appears that it is not in dispute tha....

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....nt the scheme of arrangement is approved, would not be in a position to have the correct view of the voice of the secured creditors, more particularly, in view of the statutory requirement of majority. 4. Therefore, considering the facts and circumstances, and without prejudice to the rights and contentions of the applicant as well as the Official Liquidator, as may be, in the winding-up procee....