CIFCO PROPERTIES PVT. LTD. AND ORS. versus CUSTODIAN AND ORS.

CIFCO PROPERTIES PVT. LTD. AND ORS. versus CUSTODIAN AND ORS.

Interference with the Special Court's interlocutory order appointing the Custodian as Receiver is unwarranted since it decides no rights, sale proceedings are nearing completion, and appellants retain opportunity to object before bids are finalized.

Parties
Appellant: CIFCO Properties Pvt. Ltd.; Respondent: Custodian; Respondent: Other Respondents
Jurisdiction
India
Judgment Date
31 March 2005
Procedural Posture
Civil Appeal / Interlocutory Appeal From Special Court Order
Outcome
Appeal dismissed
Legal Topics
Sale of Attached Properties, Receiver and Custodian Roles, Interlocutory Orders
Securities Law Civil Procedure Sale of Attached Properties Receiver and Custodian Roles Interlocutory Orders

Case Brief

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Parties

CIFCO Properties Pvt. Ltd.

Appellant

Custodian

Respondent

Other Respondents

Respondent

Procedural Posture

Civil Appeal / Interlocutory Appeal From Special Court Order

Legal Issues

  1. 1 Whether the Custodian can act as Receiver for conducting sale of attached properties instead of the High Court Receiver
  2. 2 Whether interference is warranted with the Special Court's interlocutory order

Ratio Decidendi

Interference with the Special Court's interlocutory order appointing the Custodian as Receiver is unwarranted since it decides no rights, sale proceedings are nearing completion, and appellants retain opportunity to object before bids are finalized.

Court Disposition

Appeal dismissed

Orders

  • Interlocutory stay order dated March 29, 2005 stands vacated.