(1.) ORDER ON ISSUE, NO. 1 : The first defendant Hypine Carbons Ltd. (in liquidation was established at Nalagarh in the State of Himachal Pradesh to carry on the business of producing, processing of activated carbon and bye-products thereof. At the request of the first defendant, State Bank of Patiala sanctioned and granted some credit limits to it in pursuance of an agreement dt. Dec. 18, 1972. This agreement was reviewed and the necessary documents renewed from time to time.
(2.) The first defendant was supplying its manufactured products, which were hypothecated with the Bank, to various parties with direction to make payment directly to the Bank. Hundies used to be drawn by these parties which used to be discounted to the Bank.
(3.) A petition for the winding up of the first defendant (being Company Petition NO. 1 of 1977) was moved in this Court by M/s. Kuldip Industrial Corporation. This Court, while admitting the petition, appointed a Provisional Liquidator for the first defendant under S.450 of the Companies Act, 1956.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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