2003 (11) TMI 352 - HC - Companies Law

Summary

Issues:
Claim for direction to Official Liquidator to accept claim after condoning delay.

Analysis:
The judgment pertains to an application under Rule 177 read with Rule 9 of the Companies (Court) Rules, 1959. The applicant sought a direction for the Official Liquidator to accept the claim after condoning any filing delay. The company in question was ordered to be wound up, and various financial institutions, including the applicant, were seeking recovery. The Debts Recovery Tribunal had adjudicated the applicant's dues to be Rs. 2,72,62,878. The Official Liquidator had sold charged assets, and successful bidders had deposited bid amounts. The Official Liquidator invited claims through newspaper advertisements, and the applicant filed its claim accordingly. Despite some correspondence indicating non-filing of claims, both parties agreed that the claim had been submitted. The court found that the delay in filing deserved to be condoned, especially as the claim was from a Secured Creditor and based on the DRT's acceptance.

The court allowed the application, condoning the delay in filing the claim and directing the Official Liquidator to adjudicate the applicant's claim as per the law. The judgment disposed of the application accordingly.