TMI Blog2015 (3) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... e application filed in C.A.No. 1348/2014, which is filed by M/s.Mysore Acetate and Chemicals Company VRS Employees Association. In the said application, they seek that the interest on the claim made by the members of the applicant/association be paid to the association in compliance of the order passed in C.A.No. 1072/2011. The applicant therein, infact, is seeking to facilitate the payment to its members as they are scattered in different parts of the State and the Official Liquidator may not be in a position to contact each of them. The Official Liquidator, therefore, instead of dispatching Form 138 through 'speed post' shall deliver the same to the office bearers of the applicant in C.A.No. 1348/2014. The office bearers shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing payment of interest on the claims made by the ex-employees of the company in liquidation. 3. This Court by order dated 11.01.2013 has directed the Official Liquidator to make the payment of interest. It is in that view, the Official Liquidator, keeping in view the provision, is seeking to declare interest at 4% per annum from the date of winding up order to the date of the declaration of final dividend payable to 517 ex-employees. Consequent thereto, the dispensation of filing of Form 137 and leave to open a separate dividend account in Punjab National Bank, Hudson Circle, Bangalore for an amount of ₹ 1,20,42,585/- is sought. The Official Liquidator is further seeking that Form 138 be permitted to be sent by 'speed post' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the applicant in C.A.No. 1348/2014. The office bearers shall secure all particulars from its members including the details of their bank account number so as to facilitate payment by RTGS to the concerned employees. The necessary documents, which are to be obtained from members of the applicant in C.A.No. 1348/2014, shall be delivered to the office bearers by the Official Liquidator. On submission of the details, the payment to be made in respect of each of the employees, who are the members of the association, shall be done forthwith to the account number furnished by the association on behalf of the employees. If the applicant/association does not furnish the details of all the 517 members, payment as indicated shall be made only in res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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