HC disapproves provisional attachment of goods, stock & receivables

Utkarsh Ispat LLP Vs State of Gujarat (Gujarat High Court)

In the case on hand, HC do not approve the provisional attachment of the goods, stock and receivables, more particularly, when the entire stock and receivables have been pledged and a floating charge has been created in favour of the Kalupur Commercial Bank Limited for the purpose of availing the cash credit facility with the provisional attachment of the goods, stock and receivables the entire business will come to a standstill.

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