2021 (2) TMI 1386

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....GH COURT - HC<br>Dated:- 25-2-2021<br>Company Application Nos. 199/2019 and 260/2019 in Company Petition No. 199/2010 - -<br>Indian Laws<br>THE HON'BLE MR. JUSTICE S. SUNIL DUTT YADAV For the Appellant : Sri P. Sreenivasaiah, Advocate For the Respondent : Sri Jagadeeshgoud Patil, Advocate ORDER C.A.No.199/2019 has been filed the Official Liquidator seeking for a direction against respondent No....

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....wer from Bank of India. It is further submitted that under an Assignment Agreement dated 17.11.2017, the applicant in C.A. No.260/2019 had acquired debts of the Company in liquidation from Bank of India. As regards rights for recovery of such debts from the company in liquidation, the company has been ordered to be wound up as per the order dated 12.04.2019. 5. The Bank of India had filed O.A.No.....

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....RFAESI Act&#39;) provides for a separate procedure, the same would override the general procedure and accordingly, the assignee from the Bank of India is to be permitted to stand outside the winding up proceedings and proceed against the secured assets in its possession. 6. The Official Liquidator in their application - C.A. No.199/2019 has submitted that their right under the Companies Act is to....

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....nies at the first instance on 11.12.2004 and is modified. 9. Insofar as the assignment in favour of the applicant in C.A. No.260/2019, admittedly such assignment has been made on 17.11.2017. The assignment is an internal transaction between the Bank of India and the assignee. If the creation of charge by the Bank of India is taken note of, clearly such charge is not affected by the order of windi....