Court : Kerala
Decided on : Feb-24-1987
Reported in : [1990]69CompCas427(Ker)
Chettur Sankaran Nair, J.1. This appeal by the defendant is against a judgment on remand, decreeing the suit.2. The plaintiff, the Aluminium Industries, Kundara (called 'the company' hereinafter), obtained a licence under the I. D. A. Scheme to import aluminium ingots. The company, by exhibit D-2 letter dated February 4, 1966, requested the defendant, Indian Bank (called 'the bank' hereinafter) to execute an undertaking to the foreign supplier Alooa International, to effect the import Accordingly, the bank issued exhibit D-18, dated February 21, 1966, undertaking to make remittances to the foreign supplier, Two consignments of 350 tonnes and 300 tonnes were to be imported, one at the port of Cochin, and the other at the port of Calcutta respectively. By exhibit D-1 letter dated May 10, 1966, after placing the funds with the bank, the company requested them to remit the rupee equivalent of U. S. $ 165, 853.97 to the Government for the Cochin consignment. The letter also stated that the ...
Tag this Judgment!Court : Kerala
Decided on : Jun-30-1987
Reported in : [1990]69CompCas497(Ker)
Shamsuddin, J. 1. This MFA is filed challenging the order of a learned single judge in Company Application No. 306 of 1986 in Company Petition No. 11 of 1983. 2. The Revenue Divisional Officer, Fort Cochin, who is the appellant herein filed the above application under Rule 7 of the Companies (Court) Rules, 1959, praying for cancellation of the sale effected pursuant to a notice of sale dated October 15, 1985, published by the official liquidator, High Court of Kerala, in respect of 1.35 acres of land specified in the agreement executedbetween the Government and Brunton and Company (Engineers) Ltd. (now in liquidation) and to direct the official liquidator to confine the sale only to the structures standing on the land and to surrender vacant site to the Government after declaring that the lease is terminated. 3. The material averments contained in the affidavit filed in support of the above application are as follows : A lease agreement was executed between the director of Brunton and ...
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