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2008 (8) TMI 563 - SUPREME COURTDirection to appellant to deposit in court the sum of Rs. one crore that it had received in connection with the sale of the property for the liquidation of which a proceeding remains pending in the High Court - Held that:- Appeal dismissed. Having regard to the provisions of the Companies Act it is plain and clear to us that the money received by the appellant from MGF Ltd. was legally bound to come to the Court. The Court was in error in allowing the payment to the appellant by its earlier order dated 1-9-1999 and later it rightly recalled that order and directed the appellant to deposit the money in the Court - respondent No. 2, the applicant, had itself received over Rs. 13 lakhs from the Debtor Company and it was, therefore, not open to it to object to the appellant too getting its due from the Debtor-Company, the obvious answer is that one wrong would not justify another of the same kind. But the submission does not even appear to be factually correct.
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