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In The Matter Of Champaran Suger Co. Ltd. - COMPANY APPLICATION No. - 2 of 1993 [2007] RD-AH 15006 (5 September 2007)

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).


Hon. Sunil Ambwani, J.

Shri C.L. Pandey, Sr. Advocate assisted by Shri P.C. Jain appears for Vishnu Kant Gupta. Shri Ashok Mehta and Shri A.K. Mishra appear for the Official Liquidator. Shri O.P. Misra appears for IFCI Ltd. and ICICI Bank Ltd. and Shri Anurag Asthana for M/s Hanuman Sugar Industries Ltd.

Shri Om Prakash Misra informs that the` judgment of the Division Bench by which the order dated 12.2.2007 directing all the parties to deposit Rs.5 crores each to show their bonafides was set aside, has been challenged in special leave petition (civil) No.13843 of 2007. Shri Misra informs that on 27th August, 2007 while issuing notice the Hon'ble Supreme Court has directed, "Meanwhile status quo as of today shall be maintained".

Shri Misra submits that this order operates on both the units. Shri C.L. Pandey on the other hand submits that the order of Supreme Court is in respect of Bara Chakia unit. He informs that with regard to Chanpatia unit the special appeal is still pending before the Division Bench and interim order is operating.

In view of the orders in special appeal and the special leave to appeal, the Court has to adjourn the matter awaiting the judgment.

The proceedings in this Court with regard to sale of both the units shall remain suspended till then. List on 24th October, 2007.



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