Asset Reconstruction Company (India) Limited, v. M/S. Magna Fourdrinicr Limited (In Liquidation)

THE HONOURABLE SRI JUSTICE RAJA ELANGO COMPANY APPLICATION No.420 OF 2017 IN R.C.C.No.6 OF 1999 ORDER:

This Company Application is filed by the applicant under Section 151 of the Code of Civil Procedure, 1908 read with Rule 9 of the Companies (Court) Rules, 1959 and Section 5(4) of the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with the following prayer:- "i) For the reasons stated in the accompanying affidavit, it is therefore prayed that this Hon'ble Court may be pleased to permit the applicant herein to come on record by substituting and / or representing respondent No.2 i.e., State Bank of India, as the secured creditor of the respondent No.1 and be pleased to pass such other order or orders as this Hon'ble Court may deem fit and proper in the circumstances of the case."

2.

Heard and perused the material available on record. 3.

Considering all the facts and circumstances of the case, the prayer in this Company Application is allowed. 4.

Accordingly, the Company Application is allowed. _________________________ JUSTICE RAJA ELANGO 13.04.2017 AMD

THE HONOURABLE SRI JUSTICE RAJA ELANGO COMPANY APPLICATION No.420 OF 2017 IN R.C.C.No.6 OF 1999 Date: 13.04.2017 AMD