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2018 (3) TMI 1871 - HC - Companies LawSale of the vessel Sangita owned by the company in liquidation - HELD THAT:- The amount to be deposited by M/s. Vedant Ship Management shall be invested by the Official Liquidator in a Fixed Deposit of a Nationalized Bank. No amount shall be disbursed without seeking appropriate orders from the Court. The charges of the vessel including all port charges up to date shall be to the Official Liquidator's account and shall be paid from out of the sale proceeds. It is clarified that all claims against the sale proceeds of the vessel including maritime liens and claims shall be considered by the Official Liquidator in accordance with the applicable law of priority of claims. The charges receivable by the port authorities in respect of the vessel shall be recovered from the Official Liquidator. The Port authorities shall not hold up the delivery of the vessel to the purchaser for nonpayment of these charges - Application disposed off.
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