RESERVE BANK OF INDIA Vs. ROCKLAND LEASING LTD.

JUDGEMENT

(1.) THERE are a very large number of substantive petitions pertaining to M/s Rockland Leasing Ltd. (for short Rockland) pending in this Court. The Registry of this Court informs me that, additionally, there are more than 500 applications pertaining to Rockland which have been disposed of and another 500 applications which need to be disposed of.

(2.) CONSIDERING the fact that a large number of litigants were concerned with the disposal of these matters pertaining to Rockland, I fixed the cases for final disposal on a day to day basis with effect from 19th November, 2001 at 2.00 pm. Arguments were heard in part on that day, and were concluded on 20th November, 2001 when judgment was reserved.

(3.) SUBMISSIONS were essentially made in two cases. CP 93 of 2001 is a winding up petition filed by the Reserve Bank of India under the provisions of Section 45 -MC of the Reserve Bank of India Act, 1934 (for short the RBI Act). The prayer is, quite naturally, for winding up the affairs of Rockland.