Allowed
International Asset Reconstruction Company Pvt. Ltd., v. M/s. A.P. Carbides Limited (in liquidation)
Telangana HCCOMPA/1039/2014
Case brief
AI extract
What is this about?
The court permitted the substitution of the applicant in place of Standard Chartered Bank in Company Petition No.35 of 1985. The applicant demonstrated that the debt owed to the bank had been assigned to it, and the official liquidator raised no objection to the substitution.
What did the court decide?
The applicant is substituted in place of non-applicant No.5-Standard Chartered Bank in Company Petition No.35 of 1985 and all future applications filed therein.