Allowed the Official Liquidator to keep fixed deposits with State Bank of India for one year due to higher interest rates compared to government securities.
Permitted the Official Liquidator to keep fixed deposits with State Bank of India for one year.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN
COMPANY APPLICATION No. 261 of 2012 In
R.C.C.No.2 of 1995
ORDER:
A detailed report is filed by the Official Liquidator stating that the interest payable on fixed deposits by State Bank of India is far higher than that of government securities.
In accordance with Rule 292 of the Companies (Court) Rules, 1959, the Official Liquidator is permitted to keep the fixed deposits with State Bank of India (Main Branch), Koti for a period of one year.
The Company Application is, accordingly, disposed of. RAMESH RANGANATHAN,J
Date:01.03.2012 usd
1 issue framed by the court
Whether the Official Liquidator is permitted to keep fixed deposits with State Bank of India under Rule 292 of the Companies (Court) Rules, 1959.
1 provisions across 1 enactments
RAMESH RANGANATHAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
