High Court of Judicature at Allahabad
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Satish Chand Agarwal v. Chhetriya Prabandhak, U.P.F.C., Agra And Others - WRIT - C No. 7935 of 2000  RD-AH 6610 (29 November 2005)
WP No. 7935 of 2000
HON'BLE YATINDRA SINGH, J
HON'BLE R.K. RASTOGI, J.
1. M/s Bankey Behari Cold Storage and Ice Factory Pvt Ltd., village Bhubari, post Sonai, district Mathura (the Cold Storage) had taken a loan from UP Financial Corporation (the Corporation). For payment of the loan, certain properties were mortgaged. The loan could not be paid, and the Corporation started recovery proceeding. The petitioner claims that he has supplied cement to the tune of Rs. 1,80,855/- to the Cold Storage and this amount may be paid to him after deducting it from the auction money.
2. We have heard counsel for the petitioner and standing counsel for the respondents nos. 1 and 2. The Corporation is the secured creditor. The petitioner may, at the most be an unsecured creditor. The claim of the Corporation is to be satisfied first. In case any surplus money is left, then that is to be distributed among the unsecured creditors. In view of this, we dismiss the writ petition with the observation that in case any amount is still left after payment of the amount of the secured creditor, then the petitioner may be entitled to recover it in accordance with law.
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