M/S. Sbi Global Factors Ltd. v. The Official Liquidator Of M/S Life Line Industries Ltd.

ppn 1 23.ca-340.16.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.340 OF 2016 IN COMPANY PETITION NO.375 OF 2010 M/s.SBI Global Factors Ltd.

..

Applicant In the matter between M/s.SBI Global Factors Ltd.

..

Petitioner Vs.

The Official Liquidator of M/s.Life Line Industries Ltd.

..

Respondent --- Mr.Mihir Mody i/by M/s.K Ashar & Co. for the applicant/petitioner. Ms.Yogini Chauhan, Deputy Official Liquidator present. --- CORAM : R.D. DHANUKA, J.

DATE : 10th February 2017 P.C. :

.

Learned counsel appearing for the applicant states that the applicant would bear the litigation cost and expenses which would be borne by the official liquidator to defend the Suit No.498 of 2011 filed by the applicant in this Court if leave as prayed by the applicant in this company application is granted by this Court. Statement is accepted. 2.

Company application is accordingly made absolute in terms of prayer clause (a) on the condition that the applicant will pay professional fees and other expenses as may be borne by the official liquidator to defend the said suit within four weeks from the date of communication of the charges by the official liquidator.

ppn 2 23.ca-340.16.doc 3.

It is made clear that the official liquidator would be at liberty to engage the services of the advocates and counsel, if he so desires to defend the company in liquidation in the said suit. R.D. DHANUKA, J.