K JOSEPH AUGUSTI Vs. M A NARAYANAN

JUDGEMENT

(1.) THE respondent, the Official Liquidator of the, Palai Central Bank Ltd. , raises a preliminary objection to the maintainability of these appeals from an order directing the public examination of the appellants under Section 45-G of the banking Companies Act, 1949. He contends that no appeal is competent in view of section 45-N of that Act.

(2.) SUB-SECTION (1) of Section 45-N provides that an appeal shall, lie from any order or decision of the High Court in a civil proceeding under the Act when the amount or value of the subject-matter of the claim exceeds five thousand rupees. Sub-section (3) of Section 45-N says that subject to the provisions of Sub-section (1) and Sub-section (2) we are not concerned with Sub-section (2) and notwithstanding anything contained in any other law for the time being in force.

(3.) AN identical objection came up for consideration in Madhaya Naik v. Popular bank Ltd. Alleppey, 1960 Ker LT 581 : (AIR 1961 Ker 14 ). In that case a Division bench of this Court held that Section 45-N