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Supreme Court of India · body

2001 DIGILAW 82 (SC)

State Bank of India v. Hira Mills Ltd.

2001-01-11

B.N.KIRPAL, BRIJESH KUMAR, RUMA PAL

body2001
ORDER : 1. Pursuant to the orders of the High Court, which were not stayed during the pendency of these appeals, Mr. S.K. Dholakia, the learned senior counsel appearing for the State Bank of India informs that after remand, a sum of Rs. 19,89,919/- was found due and payable to the appellant-National Textile Corporation and this amount has been received. 2. The claim in the appeal, which would if at all survive, would be in relation to that of interest after 1974. On the other hand, the claim of Messrs Hira Mills Ltd. is that the State Bank was not entitled to adjust the payments which had been made by the Mill against the earlier dues before the taking over of the management of the said Mills. 3. We are informed that as far as Hira Mills Limited is concerned, it has gone to B.I.F.R. The sum of Rs. 19, 89,919/- having already been received by the State Bank of India, in our opinion, no useful purpose would be served in proceeding with these matters further and the amount received by the State Bank of India should be considered and regarded as being a full and final settlement of all the claims inter-parties. The legal issues arising in the case are left open. The appeals are disposed of.