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2015 (3) TMI 416 - CALCUTTA HIGH COURTAppeal against order of admitting Winding up petition - Held that:- From the provisions contained in the RDB Act, 1993 it is evident that a Debts Recovery Tribunal does not have any jurisdiction to wind up a debtor company. The power of the company court to wind up a company, under the Companies Act, 1956 is in conflict with any provision of the RDB Act, 1993 and the provisions of Section 34 of the RDB Act, 1993 has any application in case of winding up application by a bank or financial institution. Thus, the ratio of the decision of the Supreme Court in the case of Allahabad Bank [From the provisions contained in the RDB Act, 1993 it is evident that a Debts Recovery Tribunal does not have any jurisdiction to wind up a debtor company. The power of the company court to wind up a company, under the Companies Act, 1956 is in conflict with any provision of the RDB Act, 1993 and the provisions of Section 34 of the RDB Act, 1993 has any application in case of winding up application by a bank or financial institution. Thus, the ratio of the decision of the Supreme Court in the case of Allahabad Bank vs. Canara Bank (Supra), laying down that in case of a conflict between the Companies Act, 1956 and the RDB Act, 1993 the provisions of the latter special Act shall override the previous general Act, has no manner of application in this case.], laying down that in case of a conflict between the Companies Act, 1956 and the RDB Act, 1993 the provisions of the latter special Act shall override the previous general Act, has no manner of application in this case. We are also supported in our view by a judgment of the Supreme Court in the case of Haryana Telecom Ltd. [1999 (7) TMI 545 - SUPREME COURT OF INDIA]. The Supreme Court held that arbitrator having no such power could not have entertained the petition and, therefore, the application made to the High Court for referring the matter to arbitration was misconceived. In our considered view, the principle laid down in the said judgment of the Supreme Court with regard to the exclusive power of company court to wind up a company squarely applies to the instant case before us. The Debt Recovery Tribunal not having been invested with the power to wind up a company, it would not be possible to urge before the company court that the petition should not be heard. we agree with the order made by the learned Single Judge admitting the petition for winding up. The appeal is dismissed as without substance.
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