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2020 (11) TMI 518 - HC - Companies LawGrant of Leave to proceed with the suit - HELD THAT:- To have smooth and proper trial of the suit in question, it will be in the fitness of the things that the appellant / plaintiff is allowed to have the trial of the suit filed by the plaintiff against the defendants at the Delhi High Court itself upon its restoration by Delhi High Court as leave to proceed with the suit has been granted by the Company Judge now, as required under Section 446 of the Companies Act, 1956 since the appellant / plaintiff has undertaken to reimburse the cost of the Official Liquidator, Madras to contest the suit at Delhi in view of the shortage of the funds of the Company in liquidation M/s.Rayalaseema Commodities Limited and has agreed to make the initial deposit of ₹ 3,00,000/- subject to the account of the same being furnished by the said Official Liquidator before the Hon'ble Company Judge as well as to the appellant / plaintiff. We consider it appropriate to consider the said request of the appellant / plaintiff. The appellant / plaintiff is directed make a deposit of ₹ 3,00,000/- by way of a Demand Draft in favour of the Official Liquidator, Madras within a period of three weeks from today, after obtaining due acknowledgement thereof. The account of the expenses incurred for the same and further deposits, if any required, will be governed by the orders to be passed by the learned Company Judge - appeal disposed off.
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