Anita International Vs. Tungabadra Sugar Works Mazdoor Sangh
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Head Note
Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Debt Recovery
For recovery of a debt due to a bank or a financial institution, the concerned bank or financial institution, can legitimately initiate proceedings, by filing a winding up petition before the jurisdictional Company Court, or alternatively, intervene in a pending winding up petition. Since there is no bar restraining a bank or a financial institution from approaching a Company Court, by filing a winding up petition, it is not possible to conclude, that the jurisdictional Company Court, is not possessed with the determinative authority/competence to entertain a claim raised by such bank or financial institution.
Topic(s)-Recovery of Debts Due