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2019 (11) TMI 904 - HC - Companies LawSeizure of liquidation proceedings - recovery of dues - priority of claims - attachment of bank accounts - HELD THAT:- These two writ petitions can be disposed since Bombay High Court is seized of liquidation of M/s Madras Petrochem Limited and the issue regarding the priority of the claims has to be settled by the Bombay High Court in the pending liquidation proceedings subject to the outcome of SLP filed by the Assistant Commissioner (CT). All questions relating to the prioritising of rival claims as well as approving of the claims is to be undertaken by the Official Liquidator, attached to the Bombay High Court. The petitioner/ICICI Bank shall keep all the 8 (eight) Fixed Deposits renewed pending such exercise. The writ petitions are disposed off relegating the parties to make their submissions before the Official Liquidator, attached to Bombay High Court in accordance with law. The Official Liquidator, attached to Bombay High Court, will examine the same in accordance with the provisions of the Companies Act.
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