ANDHRA BANK Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) A.P.O. No. 1082 of 1993 arises out of the Judgment and or order passed by a learned Judge of this Court on 12th October, 1993 in Company Petition No. 621 of 1987. The impugned order challenged in the instant appeal runs as under :

(2.) By subsequent order passed on 23rd November, 1993 it was clarified by the learned Judge that the Joint Receivers would draw a sum of Rs. 38 lakhs from the Fixed Deposit made with the appellant-bank and pay the amount to the Official Liquidator in terms of the order dated 12th October, 1993 for disbursing of one month's salary to the officers, staff and workers of New Tobacco Co. Ltd. certain other directions were also given to the Joint Receivers with which we are not presently concerned.

(3.) The basic facts in a nutshell relevant for the purpose of the instant appeal are as follows :-