OSHI FOODS LIMITED Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) THE brief facts which have led to the filing of this petition Under Section 115 of the Code of Civil Procedure be noticed.

(2.) PETITIONER No. 1 M/s Oshi Foods Ltd. is a company registered under the Companies Act. It has its head office at New Delhi. As it was unable to meet some of its financial commitments, a company petition was filed in the Delhi High Court. This bears No. 28 of 1992. On 17th of March, 1992, Delhi High Court has passed an order directing winding up of the company. One Shri A. K. Das has been appointed as official liquidator. This official liquidator has taken over the assets of the company on 29th of September, 1993. In a nutshell, it can be stated that the company is now under winding up process.

(3.) AGAINST the company a suit was filed by the State Bank of India at Gwalior. To the maintainability of the suit, a preliminary objection was taken. This objection was to the effect that the suit cannot proceed unless and until leave of the company court in terms of 444 and 446 (1) of the Companies Act, is obtained. The trial Court has held that the suit can proceed notwithstanding the provisions contained in Section 446 of the Companies Act. It is against the above order, this petition has been filed.