NAGINDAS KASTURCHAND Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) By this application filed by Mr Shashikant Pasari who is a exDirector of Rajan (Textile) Mills Pvt Ltd (in liquidation), Barshi, Taluka Barshi, District Sholapur, and a guarantor to the secured creditor and who is major shareholder and claims to be a creditor of the Company (in liquidation), seeks recall/review of the order dated 12th February, 2013 passed by this Court in Company Application No.653 of 2012. By the said order dated 12th February, 2013 passed by this Court in Company Application No. 653 of 2012 filed by the Central Bank of India one of the secured creditor, this Court allowed the Central Bank of India to release all claims on the leasehold rights in favour of the owners of the properties which were mortgaged with the Central Bank of India, being Block Nos. 400, 401, 402, 403, 405 and 427 situate at village Barshi, Taluka Barshi, District Sholapur (hereinafter referred to as "the said properties) by accepting the sum of Rs.1.40 Crores from the owners of the said properties and also directed the Official Liquidator to release and relinquish the leasehold rights held by M/s Rajan (Textile) Mills Pvt Ltd (in liquidation) in favour of the owners of the said properties and to execute necessary deeds and the documents as required.

(2.) Some of the relevant facts for the purpose of deciding this application are as under :

(3.) Learned counsel for the applicant submits that the applicant was not served with the copy of the Company Application (C.A.No.653 of 2012) filed by the Central Bank of India and an exparte order came to be passed in favour of the Central Bank of India with consent of the Official Liquidator. It is submitted that the applicant being exDirector of the said Company and a guarantor is jointly and severally liable in respect of the dues of the said Company. Learned counsel further submits that in view thereof no order could be passed without effecting service of papers and proceedings and hearing the applicant. It is submitted that the applicant has thus locus standi in the present proceedings to oppose the relief that was sought by the Central Bank of India and has thus locus to file this application recalling the order passed by this Court which was passed ex parte.