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2022 (8) TMI 659 - HC - Companies LawDistribution of proceeds - winding up proceedings - whether the appellant-company had received amounts in excess of Rs.1,43,05,661/-, and furthermore, as to how the said amount(s) were distributed? - HELD THAT:- The S.A. seems to suggest that Rs.77,00,000/-, received in the first instance, was accounted for, and after adjusting the expenses that had been incurred by the appellant-company, was distributed equally between the parties. 24.5. Insofar as the balance amount i.e., Rs.66,05,661/- is concerned, the figures given in the winding up petition show that the respondent received, if not, Rs.22,22,000/-, it surely did receive Rs.20,22,000/- - It does appear that there is a typographical error vis-à-vis the figure shown against the date set forth in the table, which is 25.06.2009. The respondent clearly did not place any material before the Learned Single Judge, to demonstrate that the appellant had received monies in excess of Rs.1,43,05,661/-. Distribution of Rs.9,99,894.50/- - HELD THAT:- Although Ms Altaf says that the respondent is required to bear the burden of expenses incurred in the arbitration proceedings, there is no material to demonstrate, at least presently, that the respondent was called upon to share the expenses. The impugned order dated 07.01.2019 is set aside - The appellant-company will deposit 50% of Rs.9,99,894.50/-. with the Registry of this Court - Appeal disposed off.
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