Oriental Bank Of Commerce v. Mittal Corp Ltd.

(17) CAL 247-17 Amk

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO. 247 OF 2017 IN COMPANY PETITION NO. 781 OF 2015 Nordea Bank AB .. Petitioner Vs.

Mittal Corp Ltd.

.. Respondent And Oriental Bank of Commerce .. Applicant Mr. Shyam Kapadia a/w. Mr. Darshan Mehta, Niket Jani, Ms. Pooja Kane i/b Dhruve Liladhar & Co. for the Petitioner. Mr. Virag Tulzapurkar, Sr. Advocate a/w. Mr. Pradeep Bakhru i/b Wadia Gandhy & Co. for the Respondent.

Mr. Sharan Jagtiani a/w. Mr. Anup Khaitan i/b Anup Khaitan & Co. for the Applicant.

CORAM : A. S. GADKARI, J.

DATE : 13 th JULY, 2017.

P. C. :

1.

This is an application for intervention by the secured creditor and the leader of consortium of 14 banks.

It is the settled position of law that a secured creditor has locus standi to be heard at the time of admission of the winding up petition. A safe reliance can be placed on the decision of this Court in the case of Bharat Petroleum Corporation Ltd. Vs. National Organic Chemical Industries Ltd. [2004(2) Mh.L.J. 114] for the same. In view of the ratio laid down by this Court in the aforestated decision, the petitioner has locus standi.

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(17) CAL 247-17 2.

In view thereof, the application for intervention is allowed. 3.

The petitioner is directed to implead the applicant as necessary party-respondent in the petition. Amendment to be carried out within a period of two weeks from today and an amended copy of the petition be served upon all the respondents within the same stipulated period.

4.

The Company Application is, accordingly, disposed off. [A. S. GADKARI, J.] 2/2