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Judgment
The petitioner is a limited company. Mr. Saumyo Jyoti Sengupta, C.F.O. appears on behalf of the company and submits that some of the money is
lying with the State Bank of India, which needs to be disbursed to the creditors of the company. The State Bank of India is also represented by Shri
Subrata Burman, Chief Manager, SAMB-I, S.B.I, Kolkata and Mr. N. Bindo Madhab, Manager (Law), S.B.I., SAMB-1, Kolkata. They submit that
they have no objection in disbursing the fund, which is lying with them as per order of B.I.F.R.
However, this fund should be disbursed for payment of the creditors of the company. Once all the creditors are paid up, the balance amount can be
paid to the company.
This Court feels that both parties should come with joint affidavit containing amicable settlement for disbursement and procedure for disbursement of
the amount lying with the State Bank of India.
The parties pray for one week’s time to file such affidavit.
Accordingly, the matter shall be listed at the top on April 17, 2018 under the heading ‘For Order’.
Let supplementary affidavit filed in Court be kept with the record.