ALLAHABAD BANK vs CANARA BANK — C.A. No. 2536/2000

Case under Section XIV-A. Status: Disposed.

Disposed

CNR: SCIN010046731999

Filing Date

17-Mar-1999

Registration No

C.A. No. 2536/2000

Diary Number

4673/1999

Order Date

10-Apr-2000

Document Type

Judgment - of Main Case

Disposal Type

Dismissed

Last updated 01-Jun-2026

Acts & Sections

Section XIV-A

Petitioner(s)

  1. 1.ALLAHABAD BANK

    Adv. PRADEEP KUMAR BAKSHI (Dead / Retired / Elevated)

Respondent(s)

  1. 1.CANARA BANK

    Adv. SARLA CHANDRA (Dead / Retired / Elevated)

Case History

  1. Case disposedDisposed

  2. 10-Apr-2000

    Judgment - of Main CaseView PDF

  3. 17-Mar-1999

    Case filed

    Registration No. C.A. No. 2536/2000

View Full Judgment
casestatus.in Summary

Case Summary: Allahabad Bank v. Canara Bank (C.A. No. 002536/2000) The Supreme Court held that the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (RDB Act) grants the Debt Recovery Tribunal exclusive jurisdiction over adjudication, execution, and distribution of sale proceeds—overriding Companies Act provisions requiring Company Court approval. The Court rejected Canara Bank's claim to share in proceeds recovered by Allahabad Bank, finding Canara Bank satisfied none of the narrow conditions for secured creditor priority under section 529A; sale proceeds must first discharge workmen's dues before distribution to creditors. This case analysis is maintained by casestatus.in based on publicly available court records.

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