State Bank Of India vs Paras Magnetic Tapes Limited And Others

Ravi Malimath, J

This appeal from order is filed being aggrieved by the order dated 17.02.2010 passed by the official liquidator rejecting the claim of the appellant on

the ground of delay. On considering the reasons assigned, I’am of the considered view that the same constitutes sufficient cause for condoning

the delay, and that the application, rejecting the claim of the appellant-bank, requires to be reconsidered.

Hence, for all these reasons, this appeal from order is allowed. The order passed by the official liquidator dated 17.02.2020 is set aside. The official

liquidator is directed to reconsider the claim of the appellant-bank. Furthermore, the appellant-bank is allowed to file additional documents in support of

its claim before the official liquidator. The said documents shall be filed by the appellant-bank within a period of two weeks from today. The official

liquidator is directed to settle all the claims within a period of 45 days from then onwards.