REAL VALUE APPLIANCES LIMITED REAL VALUE APPLIANCES LIMITED ENGINEERING KAMGAR SANGH Vs. CANARA BANK:VARDHMAN SPINNING AND GEN MILLS LIMITED :VARDHMAN SPINNING AND GEN MILLS LIMITED
LAWS(SC)-1998-5-53
SUPREME COURT OF INDIA (FROM: BOMBAY)
Decided on May 05,1998

REAL VALUE APPLIANCES,ENGINEERING KAMGAR SANGH Appellant
VERSUS
CANARA BANK,VARDHMAN SPINNING AND GENERAL MILLS LIMITED,VARDHMAN SPINNING AND GEN.MILLS LIMITED Respondents


Cited Judgements :-

GE CAPITAL TRANSPORTATION FINANCIAL SERVICES LIMITED VS. DEE PHARMA LIMITED [LAWS(DLH)-1998-9-31] [REFERRED]
INDODAN INDUSTRIES LIMITED VS. A A I F R [LAWS(DLH)-2000-8-82] [REFERRED]
MIDEAST INDIA LIMITED VS. K M UNNI [LAWS(DLH)-2002-3-63] [REFERRED]
S M SINGHVI VS. BESTAVISION ELECTRONICS LIMITED [LAWS(DLH)-2003-5-55] [REFERRED]
AUTO PINS INDIA LTD VS. GRINDWELL NORTON LTD [LAWS(DLH)-2006-8-242] [REFERRED TO]
SIEMENS LIMITED` VS. S R P INDUSTRIES LTD [LAWS(DLH)-2008-9-183] [REFERRED TO]
RITES LTD VS. BIHAR SPONGE IRON LTD [LAWS(DLH)-2008-9-149] [REFERRED TO]
GUJARAT STEEEL TUBE COMPANY LIMITED VS. VIRCHANDBHAI BHOGILAL SHAH [LAWS(GJH)-1999-8-58] [REFERRED TO]
MODI RUBBER LIMITED VS. MADURA COATS [LAWS(ALL)-2004-5-16] [REFERRED TO]
J K SATOH AGRICULTURAL MACHINES LTD VS. BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION BOARD FOR INDUSTRIAL [LAWS(ALL)-2005-11-69] [REFERRED TO]
PUNJAB NATIONAL BANK VS. OFFICIAL LIQUIDATOR ALLAHABAD AND UTTARANCHAL HIGH COURT [LAWS(ALL)-2009-2-33] [REFERRED TO]
RAGHUNATH COTTON AND OIL PRODUCTS LIMITED VS. RAMARAO COTTON COMPANY [LAWS(APH)-1998-11-69] [REFERRED TO]
SARRAN INDUSTRIES COTTON SEED OIL INDUSTRY VS. GOVT OF ANDHRA PRADESH [LAWS(APH)-1999-9-110] [REFERRED TO]
SARVARAYA TEXTILES LTD VS. COMMISSIONER OF COMMERCIAL TAXES [LAWS(APH)-2000-3-34] [REFERRED TO]
NILE LTD VS. RENEWABLE ENERGY SYATEMS LTD [LAWS(APH)-2006-4-123] [REFERRED TO]
BHARAT HEAVY PLATE AND VESSELS LTD VS. ASSISTANT COMMISSIONER OF CENTRAL EXCISE DIVISION [LAWS(APH)-2006-6-156] [REFERRED TO]
KEDIA DISTILLERIES LTD VS. APPELLATE AUTHORITY FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION [LAWS(MPH)-1999-7-26] [REFERRED TO]
INDIAN PLYWOOD MANUFACTURINGCOMPANY LIMITED DHARWAD VS. COMMISSIONER OF LABOUR IN KARNATAKA BANGALORE [LAWS(KAR)-1998-9-34] [REFERRED TO]
FORT WILLIAM INDUSTRIES LIMITED VS. USHA BELTRON LIMITED [LAWS(CAL)-2001-11-8] [REFERRED TO]
Kal Electronic and Consultancy P LTD VS. Hindustan Development Corporation Ltd [LAWS(CAL)-2002-9-24] [REFERRED TO]
CALCUTTA JUTE MFG CO LTD VS. STATE OF WEST BENGAL [LAWS(CAL)-2003-11-24] [REFERRED TO]
BISWANATH BHUWANTA VS. INDIAN BANK [LAWS(CAL)-2007-3-16] [REFERRED TO]
JENSON NICHOLSON I LTD VS. CONTROLING AUTHORITY [LAWS(CAL)-2008-1-41] [REFERRED TO]
ALUMINIUM INDUSTRIES LTD VS. STATE OF KERALA [LAWS(KER)-2005-1-37] [REFERRED TO]
DUKE OFFSHORE LIMITED VS. BURNS STANDARD COMPANY LIMITED [LAWS(BOM)-1998-2-27] [REFERRED TO]
KOTAK MAHINDRA FINANCE LIMITED VS. PARASRAMPURIA SYNTHETICS LIMITED [LAWS(BOM)-1998-7-88] [REFERRED TO]
J K SYNTHETICS LIMITED VS. INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA [LAWS(BOM)-1999-2-51] [REFERRED TO]
I C I C I LIMITED VS. ALPINE INDUSTRIES LIMITED [LAWS(BOM)-1999-4-96] [REFERRED TO]
INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED VS. DHANESH D RUPARELIA OF INDIAN INHABITANT [LAWS(BOM)-1999-7-41] [REFERRED TO]
SESA INDUSTRIES LIMITED VS. MARMAGOA STEEL LIMITED [LAWS(BOM)-1999-8-93] [REFERRED TO]
RISHABH AGRO INDUSTRIES LIMITED VS. P N B CAPITAL SERVICES LIMITED [LAWS(SC)-2000-5-19] [REFERRED]
EAGLE FLASK INDUSTRIES LTD VS. TALEGAON DABHADE MUNICIPAL COUNCIL [LAWS(SC)-2004-10-98] [REFERRED TO]
KSL AND INDUSTRIES LTD VS. ARIHANT THREADS LTD [LAWS(SC)-2008-8-84] [REFERRED TO]
SAKETH INDIA LIMITED VS. W DIAMOND INDIA LIMITED [LAWS(DLH)-2010-4-7] [REFERRED TO]
SYNDICATE BANK VS. MULLANGIE SPINTEX PVT LTD [LAWS(DLH)-2010-9-36] [REFERRED TO]
SUNIL MITTAL PROPERTIES OF M S SHREE SHYAM PACKAGING INDUSTRIES VS. LML LTD [LAWS(DLH)-2011-1-104] [REFERRED TO]
INDERJEET ARYA VS. ICICI BANK LTD [LAWS(DLH)-2012-5-206] [REFERRED TO]
GUJARAT ELECTROMELT LIMITED VS. UNION OF INDIA [LAWS(GJH)-1999-9-43] [REFERRED]
CORE HEALTHCARE LIMITED VS. STATE OF GUJARAT [LAWS(GJH)-2004-3-28] [REFERRED TO]
PASCHIM PETROCHAM LTD VS. AUTHORISED OFFICER KOTAK MAHINDRA BANK LTD [LAWS(GJH)-2010-1-63] [REFERRED TO]
SHAMKEN MULTIFAB LIMITED VS. ASSET RECONSTRUCTION COMPANY INDIA LTD [LAWS(ALL)-2010-8-171] [REFERRED TO]
MOIRA WIRES LTD VS. M P FINANCIAL CORPORATION [LAWS(MPH)-2000-3-40] [REFERRED TO]
STEEL TUBES OF INDIA LTD VS. TEHSILDAR [LAWS(MPH)-2003-1-55] [REFERRED TO]
BALASORE ALLOYS LIMITED VS. STATE OF ORISSA [LAWS(ORI)-2007-4-44] [REFERRED TO]
NOBLE AQUA PVT LTD VS. STATE BANK OF INDIA [LAWS(ORI)-2008-2-1] [REFERRED TO]
BPL ENGINEERING LTD VS. VNS INDUSTRIES PVT LTD [LAWS(KAR)-2010-3-95] [REFERRED TO]
TATA FINANCE LIMITED VS. N R [LAWS(BOM)-1999-1-27] [REFERRED TO]
CHEMOX CHEMICAL INDUSTRIES LIMITED VS. TATA FINANCE LIMITED [LAWS(BOM)-1999-1-18] [REFERRED TO]
ASHOK MOHANSING BAJAJ H U F VS. ELEGANT PHARMACEUTICALS LIMITED [LAWS(BOM)-2000-2-14] [REFERRED TO]
BINNY LIMITED VS. APPELLATE AUTHORITY FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION [LAWS(MAD)-2003-9-151] [REFERRED TO]
GIRNI KAMGAR SANGHARSH SAMITI VS. MATULYA MILLS LIMITED [LAWS(BOM)-2001-8-95] [REFERRED TO]
APPLE FINANCE LIMITED VS. MANTRI HOUSING AND CONSTRUCTIONS LIMITED [LAWS(BOM)-2002-1-29] [REFERRED TO]
TRACKPARTS OF INDIA LIMITED VS. COSMOS CO OPERATIVE BANK LTD [LAWS(BOM)-2004-2-54] [REFERRED TO]
ASHOK ORGANIC INDUSTRIES LTD VS. ASSET RECONSTRUCTION COMPANY [LAWS(BOM)-2008-1-161] [REFERRED TO]
GORADIA SPECIAL STEELS LTD VS. UNION OF INDIA [LAWS(BOM)-2010-3-10] [REFERRED TO]
NOUVEAW EXPORTS PRIVATE LIMITED VS. APPELLATE AUTHORITY FOR INDUSTRIAL INDUSTRIAL AND FINANCIAL RECONSTRUCTION CO [LAWS(BOM)-2010-5-39] [REFERRED TO]
KANAKADHARA SPINNING MILLS P LTD VS. REGISTRAR BOARD FOR INDUSTRIAL FINANCIAL RECONSTRUCTION B I F R [LAWS(MAD)-2009-7-406] [REFERRED TO]
ICICI BANK LIMITED VS. PRESIDING OFFICER DRT COIMBATORE [LAWS(MAD)-2009-11-105] [REFERRED TO]
WEIZMANN LIMITED VS. KEDIA DISTILLERIES LTD [LAWS(BOM)-1999-2-118] [REFERRED TO]
BHARTI TELECOM LTD VS. ALTOS INDIA LTD [LAWS(P&H)-1998-6-14] [REFERRED TO]
AAR KAY CONCAST LTD VS. UOI [LAWS(P&H)-1999-7-90] [REFERRED TO]
S K G CONSOLIDATED LIMITED VS. STATE OF BIHAR [LAWS(PAT)-2000-3-10] [REFERRED TO]
J K UDAIPUR UDYOG LTD VS. STATE OF RAJASTHAN [LAWS(RAJ)-2003-5-78] [REFERRED TO]
SNEHA DYECHEM LTD VS. JYOTI RATHORE [LAWS(NCD)-2005-12-8] [REFERRED TO]
S.SUBRAMANIAN VS. STATE OF TAMIL NADU [LAWS(MAD)-2012-9-31] [REFERRED TO]
SREL INFRASTRUCTURE FINANCE LTD VS. HOTLINE GLASS LTD [LAWS(DLH)-2010-8-310] [REFERRED TO]
ITI LTD VS. TAHSILDAR [LAWS(KER)-2013-1-267] [REFERRED TO]
D.K. CHEMICALS LTD VS. RANA MAHENDRA PAPERS LTD [LAWS(P&H)-2009-2-104] [REFERRED TO]
PRIMA INDUSTRIES LTD VS. DY. COMMISSIONER [LAWS(KER)-2006-8-110] [REFERRED TO]
MADHAV INSTITUTE OF TECHNOLOGY AND SCIENCE VS. M/S. CIMMCO BIRLA LTD. GWALIOR [LAWS(MPH)-2013-5-91] [REFERRED TO]
NAVBHARAT INTERNATIONAL LTD. VS. CARGO ONBOARD M.V. AMITEES [LAWS(BOM)-2014-2-65] [REFERRED TO (II) IN]
ALOK VS. BIHAR STATE HUMAN RIGHTS COMMISSION [LAWS(PAT)-2010-3-250] [REFERRED TO]
AKSHAYA TECHNOLOGIES PRIVATE LIMITED VS. DAMODAR VALLEY CORPORATION [LAWS(JHAR)-2005-8-55] [REFERRED TO]
H.P.STATE ELECTRONIC DEVELOPMENT CORPORATION VS. WESTON ELECTRONIC LTD. [LAWS(HPH)-1999-11-9] [REFERRED TO]
BALAJI DISTILLERIES LTD. VS. STATE OF TAMIL NADU [LAWS(MAD)-2008-3-366] [REFERRED TO]
RAINBOW INK AND VARNISH MANUFACTURING COMPANY LIMITED VS. ROLLATAINER LIMITED [LAWS(P&H)-2006-3-599] [REFERRED TO]
NIMA CHEMICAL PRIVATE LTD VS. SECRETARY NEPA LTD [LAWS(MPH)-2000-6-59] [REFERRED TO]
KATHIROOR SERVICE COOPERATIVE BANK LTD. VS. COMMISSIONER OF INCOME TAX [LAWS(SC)-2013-8-114] [REFERRED TO]
BANK OF NEW YORK MELLON VS. ZENITH INFOTECH LIMITED [LAWS(BOM)-2013-7-341] [REFERRED TO]
KODUR SERVICE CO-OPERATIVE BANK LTD. VS. DIRECTOR OF INCOME TAX (INTELLIGENCE) [LAWS(KER)-2014-3-144] [REFERRED TO]
FABWORTH (I) LTD. VS. COMMISSIONER OF C. EX. & CUS., NAGPUR [LAWS(CE)-2002-10-105] [REFERRED TO]
POLYMERMANN (ASIA) P. LTD. VS. THE UNION OF INDIA (UOI) AND ORS. [LAWS(BOM)-2005-3-199] [REFERRED TO]
SNEH DYECHEM LTD. AND ORS. VS. MADHYA PRADESH STATE INDUSTRIAL DEVELOPMENT CORPORATION [LAWS(MPH)-2010-7-119] [REFERRED TO]
ZENITH INFOTECH LTD. VS. UNION OF INDIA [LAWS(DLH)-2014-12-270] [REFERRED TO]
MODI RUBBER LTD. AND ORS. VS. STATE TYRES SHOP AND ORS. [LAWS(J&K)-2015-1-1] [REFERRED TO]
MOUNT SHIVALIK INDUSTRIES LIMITED VS. THE STATE OF RAJASTHAN AND ORS. [LAWS(RAJ)-2015-2-43] [REFERRED TO]
L.G. ELECTRONICS INDIA PVT. LTD. VS. USHA INDIA LTD. AND ORS. [LAWS(DLH)-2003-9-167] [REFERRED TO]
J.M.D. ALLOYS LIMITED VS. THE BIHAR STATE ELECTRICITY BOARD AND ORS. [LAWS(PAT)-2013-12-141] [REFERRED TO]
INDUSTRIAL CABLES (INDIA) LTD. VS. GOYAL MG GASES LTD. [LAWS(P&H)-2001-11-99] [REFERRED TO]
NATIONAL TEXTILE CORPORATION (D.P. & R) LTD. VS. SHRI RAMESH CHANDER PURI [LAWS(DLH)-2002-5-282] [REFERRED TO]
NATIONAL TEXTILE CORPORATION (D.P. & R) LTD. VS. SHRI RAMESH CHANDER PURI [LAWS(DLH)-2002-8-300] [REFERRED TO]
M/S MADRAS PETROCHEM LTD.& ANR. VS. BIFR & ORS. [LAWS(SC)-2016-1-74] [REFERRED TO]
PRAMERICA ASSET MANAGERS PVT. LTD. AND ORS. VS. DECCAN CHRONICLE HOLDINGS LTD. [LAWS(BOM)-2016-2-20] [REFERRED TO]
OM PRAKASH PARASRAMPURIA AND ORS. VS. UNION OF INDIA AND ORS. [LAWS(DLH)-2016-3-9] [REFERRED TO]
M/S. MADURA COATS LIMITED VS. M/S. MODI RUBBER LTD. [LAWS(SC)-2016-6-20] [REFERRED TO]
PARDA STEELS (P) LIMITED VS. M.P. FINANCIAL CORPORATION [LAWS(MPH)-2000-3-106] [REFERRED TO]
THE STATE OF RAJASTHAN AND ANOTHER VS. JAIPUR METALS AND ELECTRICALS MAZDOORS SANGH AND OTHERS [LAWS(RAJ)-2002-8-118] [REFERRED TO]
DUKE OFFSHORE LIMITED VS. BURNS STANDARD COMPANY LTD [LAWS(BOM)-1998-9-172] [REFERRED]
BANK OF NEW YORK MELLON LONDON BRANCH VS. ZENITH INFOTECH LIMITED [LAWS(SC)-2017-2-51] [REFERRED TO]
BESTAVISION ELECTRONICS LTD VS. MONOPOLIES AND RESTRICTIVE TRADE [LAWS(DLH)-2007-2-246] [REFERRED]
M/S J.M.D. ALLOYS LIMITED, A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT USHA COMPLEX, KANKARBAGH ROAD, PATNA AND HAVING ITS FACTORY AT DEOKULI, BIHTA THROUGH ITS DIRECTOR AND AUTHORISED SIGNATORY SRI SANJAY GUPTA VS. THE BIHAR STATE ELECTRICITY BOARD, A BODY CONSTITUTED UNDER THE INDIAN ELECTRICITY ACT, 1990 HAVING ITS OFFICE AT BAILEY ROAD, PATNA, P.S. KOTWALI, IN TOWN AND DISTRICT OF PATNA THROUGH ITS CHAIRMAN [LAWS(PAT)-2015-8-172] [REFERRED TO]
BHANU IRON AND STEEL COMPANY LTD VS. SURAJ KANTA ELECTRONICS [LAWS(NCD)-2000-2-128] [REFERRED]
SIPANI AUTOMOBILES LTD VS. KAMNA LALL [LAWS(NCD)-2000-2-130] [REFERRED]
PARKASH INDUSTRIES LIMITED VS. BRIJ BHUSHAN MITTAL [LAWS(NCD)-2000-9-112] [REFERRED]
INDERJEET SINGH VS. JAGDEEP SINGH [LAWS(NCD)-2004-2-212] [REFERRED]
SHYAM SEL AND POWER LIMITED VS. SHAH ALLOYS POWER LIMITED [LAWS(CAL)-2019-2-193] [REFERRED TO]
SHRUTI KHARE VS. STATE OF CHHATTISGARH [LAWS(CHH)-2022-1-43] [REFERRED TO]


JUDGEMENT

- (1.)Special leave granted in all the Special leave petitions.
(2.)Civil Appeal arising out of SLP (C) No. 14327/1997 is filed by 'Real Value Appliances Ltd' against the order of the High Court of Bombay dated 28-7-1997 passed by a Division Bench in an interlocutory appeal, appointing a Receiver to take formal possession of the mortgaged properties which are subject matter of suit No. 82 of 1997 pending before a learned Single Judge of the said High Court on the Original Side. The respondent Canara Bank, which is the plaintiff in the suit is claiming in consortium with Union Bank of India a sum of Rs. 23.67 crores (approximately) as due to it as on 24-12-1996. Earlier the Single Judge of the Bombay High Court in his order dated 10-1-1997 had disallowed the application for appointment of Receiver in view of the stay of appointment of provisional Liquidator granted by a Division Bench of the Bombay High Court in winding up proceedings on 20-12-1996.
(3.)Civil Appeal (arising out of SLP (C) No. 14750 of 1997) is filed by the appellant company against the order passed by another Division Bench of the Bombay High Court dated 8-8-1997 in Appeal No. 1193 of 1996 by which the order of the learned Single Judge on Company Side appointing a provisional Liquidator on 18-10-1996 was affirmed. Thereby an earlier order of stay dated 20-12-1996 (granted by the Division Bench in respect of the Company Judge's order dated 18-10-96) stood vacated. The respondents are Vardhman Spinning and General Mills Ltd., the creditors, who filed the winding up petition 415/1996 on 6-8-1996 against the appellant in the High Court of Bombay.


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