RAJAGOPAL @ RAJ G. PAL S/O LATE CHANDRASHEKAR Vs. KARNATAKA STATE FINANCE CORPORATION, NO. 2716 I FLOOR, SOWRABHA CHAMBERS SRI HARSHA ROAD, MYSORE, STATE BANK OF TRAVANCORE ASSOCIATE OF STATE BANK OF INDIA ESTABLISHED UNDER STATE BANK OF INDIA (

JUDGEMENT

(1.) THIS appeal is not maintainable against respondents 1 and 3, inasmuch as they are the Corporations. Section 8 of the Provincial Insolvency Act, 1920 reads thus: 8. Exemption of corporation, etc., from insolvency proceedings -No insolvency petition shall be presented against any corporation or against any association or company registered under any enactment for the time being in force

(2.) FROM the above, it is clear that no insolvency petition can be presented against any Corporation or against any Association or Company registered under any enactment for the time being in force. Since respondents 1 and 3 are Corporations registered under particular enactment, the petition/appeal would not lie against them. Hence, no relief can be granted against respondents 1 and 3 and therefore the appeal is liable to be dismissed against respondents 1 and 3. So also, the appeal is not maintainable against respondent No.2, as respondent No.2 is a company registered under the Companies Act. Though the second respondent is a subsidiary bank of State Bank of India, it is a company registered under the Companies Act. Hence, appeal is also liable to be dismissed against respondent No. 2.