IDBI BANK LIMITED Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) This is an application filed by the IDBI Bank, which is a third party to the original proceedings, praying for discharging the Official Liquidator, who is acting as the Provisional Liquidator, for the Company Kothari Orient Finance Limited.

(2.) I have heard Mr.T.K.Seshadri, learned Senior Counsel for the applicant, Mr.Arvind Shukla, learned Official Liquidator and Mr.Sriram Panchu, learned Senior Counsel for the third respondent.

(3.) The second respondent in this application filed a company petition in C.P. No.179 of 2001, for winding up the Company Kothari Orient Finance Limited. The second respondent's wife by name R.Seethalakshmi also filed a similar petition for winding up in C.P.No.180 of 2001. Both the petitions were presented on 2.7.2001 and this Court ordered notice in both the petitions on 9.8.2001.