PRADEEP D KOTHARI Vs. IDBI BANK LIMITED

JUDGEMENT

(1.) This is an appeal preferred by Mr.Pradeep D.Kothari, former Chairman of Kothari Orient Finance Limited (in short 'KOFL') , against the judgement and decree dtd. 4/10/2013, passed by the learned Company Judge, in C.A.No.734 of 2011.

(2.) The reason that we chose to highlight this aspect of the matter, right at the outset, as an argument was advanced on behalf of the appellant that the impugned judgement and decree, by which, the Official Liquidator (in short 'the OL'), who was acting as the Provisional Liquidator (in short, 'the PL') was discharged, was passed only in C.P.No.179 of 2001, whereas, on the record of the Company Judge, there is, even now, another petition pending, whereby, winding up of KOFL is sought. In other words, the argument advanced is that dismissal of C.P.No.179 of 2001 will not bring about an efficacious conclusion even from the point view of KOFL.

(3.) As to whether, such a direction could have been passed or not by the learned Company Judge, is also a matter in issue, as submissions, in this behalf, have been advanced on behalf of the appellant.