SYNDICATE BANK Vs. STATE OF KERALA

JUDGEMENT

(1.) The petitioner Bank had obtained a decree against the sick undertaking M/s.Kottayam Textiles Ltd.. Ext.P1 is the decree and Ext.P2 is the judgment. Ext.P2 is modified by Ext.P4 judgment to a limited extent. The decree has become final.

(2.) It is the complaint of the petitioner that though they had submitted a claim under the Kerala Sick Textile Undertakings Ordinance, 1984 (presently the Kerala Sick Textile Undertaking (Aqusition and Transfer of Undertaking, 1985) Act) (hereinafter referred to as the 'Act'), the commissioner has not considered the same nor has affected any payments.

(3.) By Ext.P6 order the District Collector, who is the Commissioner of payment under the aforesaid Act had informed the petitioner that as per the report on claims submitted by the Chartered Accountants, their claims were categorised in the category IV, VII (b) and VIII of the schedule to the Act. It is further stated that at present there is no fund available with the Commissioner for the settlement of their claims and as soon as the funds are received from the government the matter will considered on merits.