State Trading Corporation Of ... vs M/S Dankuni Steels Limited, ...
2021 Latest Caselaw 750 AP

       HON'BLE SRI JUSTICE U. DURGA PRASAD RAO
                         AND
           HON'BLE MS. JUSTICE J. UMA DEVI

      CIVIL MISCELLANEOUS APPEAL No.260 of 2016

JUDGMENT: (per UDPR,J)

      Heard learned counsel for appellant, Sri J.Prabhakar and

Sri S.Ravi, learned Senior Counsel, representing on behalf of

Sri D.Narendar Naik, learned counsel for respondent on record.

2. Both the learned counsel would submit that 1st respondent

merged with 2nd respondent vide Company Application No.270 of

2016 before Hon'ble High Court of Calcutta and 2nd respondent went

into liquidation as per the order in CA(IB) No.714/KB/2018, IA(IB)

No.744/KB/2018 in CP (IB) No.446/KB/2017 on the file of National

Company Law Tribunal, Kolkata Branch, vide order dated 26.09.2018

and the matter is now pending with the liquidator. Both the learned

counsel would submit that in view of the subsequent developments,

the suitable orders may be passed in the CMA.

3. Having regard to the aforesaid facts narrated by both the

learned counsel, this Court is of the considered view that the CMA

can be closed, giving liberty to the appellant - State Trading

Corporation of India to work out its rights and remedies before the

liquidator concerned or any other authority/forum.

4. Accordingly, this CMA is closed, giving liberty to the appellant

to work out its rights and remedies before the liquidator or any other

authority/forum as per law.

As a sequel, miscellaneous applications pending for

consideration, if any, shall stand closed. No costs.

_________________________ U.DURGA PRASAD RAO, J

_______________ J.UMA DEVI, J

10.02.2021 SS