REGENT COMPUTRONICS PVT. LTD.

ALLAHABAD BANK Appellant

V/S

CANARA BANK Respondents

Referred Judgements :-

DAMJI VAIJI SHAH AND ANR. V. LIFE INSURANCE CORPORATION OF INDIA AND ORS. [REFERRED]
M K RANGANATHAN VS. GOVERNMENT OF MADRAS [REFERRED]
RAM KARAIA VS. SIMLA BANKING INDUSTRIAL COMPANY LIMITED [REFERRED]
UNION OF INDIA VS. INDIA FISHERIES PRIVATE LTD [REFERRED]
LIFE INSURANCE CORPORATION OF INDIA CHANDRASEKHAR BOSE VS. D J BAHADUR:UNION OF INDIA [REFERRED]
NATIONAL TEXTILE WORKERS UNION VS. P R RAMAKRISHNAN [REFERRED]
SUDARSAN CHITS 1 LIMITED VS. O SUKUMARAN PILLAI [REFERRED]
MAHARASHTRA TUBES LIMITED VS. STATE INDUSTRIAL AND INVESTMENT CORPORATION OF MAHARASHTRA LIMITED [REFERRED]
INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED VS. SRINIVAS AGENCIES [REFERRED]
INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED VS. GRAPCO INDUSTRIES LIMITED [REFERRED]
ALLAHABAD BANK CALCUTTA VS. RADHA KRISHNA MAITY [REFERRED]

JUDGEMENT

(1.) Leave granted.

(2.) The case raises issues relating to the impact of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called the RDB Act) on the provisions of the Companies Act, 1956.

(3.) The matter was argued and judgment was reserved. Thereafter, our attention was invited by the learned Counsel for the respondent - Canara Bank to the Amending Ordinance (Ordinance 1 of 2000) which came into force with effect from 17-1-2000. The effect of the Ordinance and in particular Section 19(19) then fell for consideration. Question of distribution of the sale proceeds by Company Court/Tribunal and method of working out priorities among creditors was argued.

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ALLAHABAD BANK Vs. CANARA BANK

Referred Judgements :-

JUDGEMENT

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