SHANTINATH COMMERCIAL PVT LTD Vs. TANTIA CONSTRUCTION LTD

JUDGEMENT

(1.) Ld. Counsels for the petitioners and the Ld. Counsels for the consortium banks are present. Ld. Counsel for the consortium banks informed that winding up petition against the same company is pending before the Hon'ble Calcutta High Court, which is listed on 04/08/2017.

(2.) Tantia Ld. Counsel for the consortium of bank has submitted that several winding up petitions i.e. CP 366/2011, CP 64/2015, CP 550/2015, CA 99/2016, CP 243/2016, CP 248/2016, CP 267/2016, CP 324/2016, CP 472/2016, CP 530/2016, CP 561/2016, CP 630/2015, CP 632/2015, CP 737/2015, CA 343/2016 [CP 587/2015], CP 366/2016, CP 429/2016, CA541/2016[CP 763/2015], CP 460/2015,CP 610/2015, CP657/2015, CP 658/2015, CP 660/2015, CP 662/2015, CP 664/2015, CP 666/2015, CP 667/2015, CP 668/2015, CP 669/2015,CP 670/2015, CP 792/2015 and CP 857/2016 are pending before the Hon'ble Calcutta High Court against the same company, Tantia Constructions Ltd., wherein the Hon'ble Calcutta High Court by its order dated 03/03/2017 has fixed June 16,2017 for the State Bank to indicate the status of the company, its financial position and the further course of action to be adopted by the consortium of banks. Ld. Counsel on behalf of the State Bank of India submitted that it is lead bank of the consortium of banks, whose exposure in the company is in excess of Rs. 1,000 Crores. Ld.

(3.) Counsel further submitted that a CDR Scheme has been put into place and the same is being monitored by the State Bank and auditors appointed by the banks and State Bank is one of the members of the consortium. He further submitted that consortium of bank lead by State Bank does not support the prayer of winding up of the company.