invoked on 13 December 2011. The Appellant filed an Arbitration Petition No. 103 of 2012 under Section 9 of Arbitration and Conciliation Act, 1996. The BCCI also filed an Arbitration Petition against the Appellant and the Respondent – Bank seeking injunction not to adjust the amount. The adjustment of the margin money was permitted by the learned Single Judge. The BCCI filed a Summary Suit No. 3131 of 2011 against the three banks including the Respondent – Bank. By order dated 20 December 2012, a conditional leave was granted by the learned Single Judge and the Respondent – Bank was directed to deposit Rs.150 crores as a conditional leave to defend. The BCCI filed a Special Leave Petition in the Supreme Court. The Supreme Court dismissed the Special Leave Petition, however, permitted the BCCI to withdraw the amount. The Respondent – Bank deposited the amount of Rs.150 crores in April 2013 as on 31 December 2013 the amount due and payable under the short term loan sanction was Rs.33,18,81,296/-. A statutory notice was issued and waived and thereafter since the amount was not repaid, the Respondent-Bank filed a Company Petition No. 340 of 2014 for winding up. The Appellant advanced various submissions as regards the amount of Rs.32,03,95.159. The primary submission was that the amount needs to be adjusted against the margin money of Rs.82.50 crores. The learned Company Judge dealt with it in-extensio and also referred to the general financial health of the Appellant and admitted the Company
