ANDREW LAWRENCE HOSKING Vs. M/S. SHEKHAR ELECTRICALS

JUDGEMENT

(1.) When the Company Application No.41 of 2017 filed by the State Bank of India, had come up for consideration, an order was passed on 6 December 2017, as under :

(2.) The Appellants challenge the order passed on 27 July 2012 in Company Application No.5/2012 by the Company Judge. Company Application No.5/2012 was filed by the Appellants in the capacity of joint trustees of the estate of Maythem Muhamad Al-Ansari, inter alia, for impleadment in Company Petition No.19/2006. Company Petition No.19/2006 is filed for winding up of the Respondent No.2-Falcon Retreat Private Limited. The said Company is wound up and the Official Liquidator has been appointed as Liquidator. The learned Company Judge, by an order dated 17 July 2012, came to the conclusion that no case was made out by the Applicant for impleadment and the application was rejected. The Company Appeal by the Appellant challenging the order dated 17 July 2012 was admitted on 1 October 2013. Earlier, by an ad interim order, further proceedings in Company Petition No. 19 of 2006 were stayed. This ad interim order was continued and by further order dated 23 October 2012, directions were given to the State Bank of India, and other parties, styled as 'Secured Creditors' in respect of the amounts of the Company with them.

(3.) As stated earlier, when the Company Application and the Company Appeal had come up for consideration on 6 December 2017, a grievance was made by the Secured Creditors that they are outside the winding up and need not be restrained from recovering their dues. It is the case of the Appellants that the Appellants have certain rights qua the amounts which are with the Secured Creditors.