Page 23 - Banking Finance December 2018

A U A

o i i o rt ro e in e ent nit o ere ne e is ation
he hhattis arh i h o rt r ed ast ee in its d ent tratech e ent
ases n er arfaesi t
td s tate of hhattis arh that the co pan as
ithin the scope of the B i din and ther onstr ction
or ers Re ation of p o ent and onditions of
er ice ct and the B i din and ther onstr ction
or ers ess ct. he ce ent co pan had ar ed
that since it as a read re istered nder the actories ct there as no need
to re ister nder the ne cts. he co rt re ected the contention and ranted
it ti e to re ister nder the ne cts. he d ent noted the iss e has a
read een decided for other ind stries the pre e o rt in the 2 d
ent anco npara o er td s tate of .

he Bo a i h o rt has asserted es a an ies a se ano a
that the ec ritisation ct arfaesi
acancies in hi h co rts and districts co rts are in h ndreds t the sit ation
ct c ear arred the fi in of a ci i in the cons er co rts is orse. o e of the ha e no
s it in a atter for the de t reco retired d e to preside o er. stice is dispensed a
er tri na . he di ision ench of rad ate no inated the state o ern ent. his sit
the i h o rt th s a o ed the ap ation pro pted the Ra asthan i h o rt to r e that a
pea of is Ban a ainst the order sin e e er ench cannot pass a a id order. here
of a sin e d e ench hich too st e a president and another e er. he order as
a contrar stand. n this case se era passed in a ar e n er of appea s in the eadin case. rac on o riers t.
persons oo ed r f ats in td s tate a ainst the order of the state co ission. o in the appea s
M ai fro a i der. the hi h co rt re ar ed it is inco prehensi e that an order passed the
district cons er for co prised an officer in the ran of a district d e and
n order to et a oan the i der
t o e ers sittin to ether co d e pt rned a sin e ench of the tate
ort a ed and and i din in the
o ission in appea . he sit ation if a o ed to pre ai o d e tota nde
pro ect to create a sec rit interest
sira e and o d e nothin short of a tra est of stice. he as ed the
in fa o r of the an . o e er the
o ern ent to fi p the acancies i ediate and the ad ocate enera has
i der and his arantors defa ted.
to report co p iance ithin three onths.
eadin to the an in o in the pro
isions of the ec ritisation ct. he
B not eant to re o er es
ers on the other hand o ed a
B not eant to reco er d es he nso enc and Ban r ptc ode cannot e
ci i co rt for specific perfor ance of
in o ed hen there is a disp te o er d es and the B a
their contracts ith the i der and
chiner cannot e ade a s stit te to a reco er for
a in the an a part tho h the
the pre e o rt stated ast ee hi e settin aside an
ere not direct connected to the
order of the ationa o pan a ppe ate ri na e
an .
e hi in the case rans ission orporation of ndhra
herefore the an o ed the hi h radesh s ip ent ond ctors a es.
co rt ar in that ection of the
he pre e o rt stated that in this case the tri na pres ed that the
ct arred the risd ction of the ci i
rans ission orporation a state nderta in o ed one to the opposite
co rt. he d ent stated o ci i
part . he tri na therefore arned the corporation to sett e the c ai oth
co rt can e ercise risdiction to en
er ise it o d pass an order initiatin the orporate nso enc Reso tion
tertain an s it or proceedin in re
rocess. n the other hand the corporation disp ted the c ai and asserted
spect of an atter hich the de t
that it o ed no a o nt to the other co pan . he ar itration tri na had
reco er tri na is e po ered or
re ected the c ai of the co pan a ainst the rans ission orporation. here
nder the ec ritisation ct .
fore there as a disp te.
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