Syndicate vs Electrotherm

1. Heard Mr.Samal, leaned advocate for the petitioner.

2. Mr. Samal, learned advocate for the petitioner has submitted that the amount in question was advanced by way of Short Term Corporate Loans to the respondent company as unsecured loan and the only collateral security was post dated cheques, which, on deposit, has been dishonoured. He also submitted that the statutory notice has not been responded.

3. Hence, office is directed to issue Notice making it returnable on 5.3.2012.

(K.M.THAKER,J.) Suresh* Top