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2022 (3) TMI 200 - MADRAS HIGH COURTSecured creditor of the Company in liquidation, filed a suit Salem for recovery of a sum with interest at the rate of 19.5% per annum at quarterly rest - first and paramount charge on the property that was sold by the Official Liquidator - HELD THAT:- When the matter came up for hearing on 07.09.2020, this Court directed the Official Liquidator to file a complete and comprehensive additional report and the the Official Liquidator also filed a detailed report on 15.10.2020, for which, the appellant/Bank also filed their objection. Finally, when the matter came up for hearing on 19.03.2021, this Court directed the the Official Liquidator to file the details of the re-adjudication of workmen claims with break ups on the next hearing. Accordingly, the Official Liquidator also filed a report dated 25.06.2021 with break-up details of workmen. Later, the Official Liquidator submitted that the re-adjudication work has not been completed for the reason that the disbursement work of interest amount at 4% was going on during that time. It was mentioned in the report dated 25.06.2021 that the re-adjudication work was made, instead of stating that, the calculation of arrears of wages for the years 1990 to 1993 were partially made - this Court, by the order dated 13.12.2019 in C.A.No.447 of 2019, permitted the Official Liquidator to publish notice in block letters/bold letters to contributories to prove the claim/extent of interest held by them in the subject Company in liquidation, in the “The New Indian Express” and “Malai Malar”. In compliance of the said order, the Official Liquidator issued notice. Subsequently, in response, one contributory has come forward with his claim and the same is pending for adjudication to proceed further in the matter - also, it is seen that the additional payment of dividend was already made to the appellant/Bank. Since the learned Official Liquidator has paid the amounts to the appellant/Bank, as per the earlier orders of this Court, nothing survives for consideration in this appeal - appeal dismissed.
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