Telangana High Court
CP/35/1985 of - Vs - on 1 December 1997
SRI JUSTICE C.V. NAGARJUNA REDDY COMPANY APPLICATION No.1039 of 2014 in COMPANY PETITION No.35 of 1985 Dated: 20.08.2014 Between: International Asset Reconstruction Company Pvt. Ltd. Rep. by its Authorized Officer Aruna Mannath. .. Applicant and M/s. A.P. Carbides Limited (in
THE HON’BLE SRI JUSTICE C.V. NAGARJUNA REDDY
COMPANY APPLICATION No.1039 of 2014inCOMPANY PETITION No.35 of 1985
Dated: 20.08.2014
Between:
International Asset Reconstruction Company Pvt. Ltd.Rep. by its Authorized Officer Aruna Mannath.
.. Applicant
and
M/s. A.P. Carbides Limited (in liquidation),Rep. by its Official Liquidator,High Court of Andhra Pradesh, Hyderabad,and others. ..Respondents Counsel for the applicant: Mr. R. Rajendra PrasadCounsel for respondent No.1: Mr. M. Anil Kumar The Court made the following:
ORDER:
This application is filed for permitting the applicant to besubstituted in place of Standard Chartered Bank in all proceedingsconnected with Company Petition No.35 of 1985.
The applicant has pleaded that the debt owed to non-applicantNo.5-Standard Chartered Bank has been assigned to it and that,therefore, it has succeeded to non-applicant No.5 with regard to thedebt relating to C.P.No.35 of 1985.
Mr. M. Anil Kumar, learned counsel for the Official Liquidator,stated that a report has been filed by the Deputy Official Liquidator inthe Registry today and that he has no objection for substitution of theapplicant in place of Standard Chartered Bank.
Inasmuch as the debt is stated to have been assigned in favourof the applicant by non-applicant No.5 and in view of no objection fromthe Official Liquidator, the applicant is substituted in place of non-applicant No.5-Standard Chartered Bank in all proceedings connectedwith Company Petition No.35 of 1985.
The application is accordingly ordered.
________________________
C.V.NAGARJUNA REDDY, J
20[th] August, 2014 IBL
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