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2009 (3) TMI 579 - HC - Companies LawWinding up - Petition for revival - Held that:- The petition for revival is ordered as prayed for. 5th respondent, M/s. Saket Steels (P.) Ltd. shall be entitled to be paid ₹ 1,00,000 and ₹ 50,000 with interest @ 12 per cent from the respective dates when the amounts were received by the company.The application for confirmation of the sale in favour of M/s. Freshness Coatings (P.) Ltd. is disallowed but M/s. Freshness Coatings (P.) Ltd. shall have a right of refund of the amount, which is deposited in Court and obtain a solatium of 5 per cent of the amount as bid at the auction and for which the confirmation of sale has been sought. The amounts as adjudged by the Official Liquidator and found expressed in the report are approved and the amounts detailed in the report shall become payable by the company.Apart from the amount as determined by the OL as payable to the Electricity Board, the HSEB and its successor DHBVNL shall have a remedy that it may independently have in relation to energy charges and the observations of the arbitrator or the Official Liquidator in that regard shall stand vacated. The amounts as detailed above from out of the amounts in deposit with OL and for any deficiency, the petitioners shall become liable to pay the respective amounts forthwith with interest at 12 per cent p.a from the date of this order till date of payment. There shall be a charge on the remaining asset of the company for the amount that is due and payable.
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