TMI Blog2012 (12) TMI 588X X X X Extracts X X X X X X X X Extracts X X X X ..... 2000 - - - Dated:- 30-10-2012 - DINESH MAHESHWARI, J. J.K. Chanda for the Applicant. K.C. Meena and Vikas Balia for the Official Liquidator. JUDGMENT 1. Heard the learned counsel Mr. J.K. Chanda appearing for the applicant-bank and the learned counsel Mr. Vikas Balia appearing for the Official Liquidator. 2. By way of this application, the applicant-bank essentially seeks to question the notice of rejection of a part of its claim by the Official Liquidator in relation to company in liquidation, Kishangarh Fabrics Ltd. The Official Liquidator after admitting the claim of the applicant-bank to the tune of Rs.45,82,948/-, has rejected the other part of the claim to the extent of Rs.40,37,173.70; and has served th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly, it is submitted, the expenditure incurred and payment made by the creditor after the date of order of winding up without the approval of the Official Liquidator or without permission of the Court are also not admissible. The Official Liquidator has given out the bifurcation of the admissible claim to the tune of Rs. 45,82,948/- in the manner that it includes the principal amount as per certificate issued by the DRT with interest @ 10% p.a. up to the date of winding up order i.e., 18.10.2002 and costs awarded by the DRT. It is, however, submitted that the claim of interest amounting to Rs. 40,11,173.70 for the period 19.10.2002 to 31.04.2009 has been rejected on the ground that it pertains to the period after the date of the order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it appears to observe that the Official Liquidator cannot be said to have committed any illegality in declining to admit the claim in relation to the interest from 19.10.2002 to 31.04.2009, being the period after the date of the order of the winding up; and in relation to the other expenditure as incurred without taking permission from the Court or approval of the Official Liquidator. Of course, the Official Liquidator would be making final payment in accordance with law after the adjudication of all the claims. 7. Though the learned counsel Mr. Chanda cannot be said to be unjustified in making the submissions that the recovered money is with the Official Liquidator and unnecessary delay in further processing of the matter should be curb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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