TMI Blog2016 (2) TMI 687X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of the Company. - COMPANY APPLICATION NO. 249 of 2014, COMPANY APPLICATION NO. 635 of 2008, COMPANY PETITION NO. 263 of 1998, COMPANY APPLICATION NO. 224 of 2013, COMPANY PETITION NO. 263 of 1998 - - - Dated:- 16-2-2016 - SMT. ABHILASHA KUMARI, J. FOR THE APPLICANT : MR JR SHAH, ADVOCATE FOR THE RESPONDENT : MR JS YADAV, ADVOCATE, MS E.SHAILAJA, ADVOCATE, MR. J S YADAV, LEARNED ADVOCATE FOR THE OFFICIAL LIQUIDATOR ORAL ORDER 1 The present Judges Summons in Company Application No. 249 of 2014 have been taken out by the applicant Rajkot Nagarik Sahakari Bank Limited, for the grant of the following prayers: A Be pleased to direct the Official Liquidator, the respondent to submit appropriate report before this Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd unsecured creditors and preferential creditors. 4 After inviting claims, as above, the Official Liquidator preferred a report dated 21.08.2015, wherein it was stated that the Official Liquidator may be permitted to pay the outstanding secured dues/claim first to the secured creditor i.e. Rajkot Nagarik Sahakari Bank Ltd., under Section 529 A of the Companies Act, 1956 and thereafter, the claims of preferential of preferential creditors and unsecured creditors, as mentioned in the report, out of the funds available in the account of the company. It was further stated by the Official Liquidator that Company Application No. 224 of 2013, preferred by the Oriental Bank of Commerce, another Secured Creditor, be also heard along with the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Preferential Debt u/s. 530 2 Income Tax Department, Rajkot. 16,51,473/ Preferential Debt u/s. 530 3 Oriental Bank of Commerce 22,45,402/ Unsecured Debt u/s. 530 4 Rajkot Nagarik sahakari Bank Ltd., 18,47,81,270 /- Outstanding Unsecured Debt u/s. 530 5 Parshwanath Cements Pvt Ltd., 2,93,964/- Pending before Hon ble High Court u/s. 530 9 It is further stated that the Official Liquidator has funds amounting to ₹ 1,65,00,000/approximately ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Rajkot, bearing S.No. 255 admeasuring 17098 Sq. Mtrs., Mortgaged to applicant and owned by M/s. Sardar Cement Pvt Ltd., (In Liquidation) which is sold to Mr. Nilesh Patel and also other hypothecated assets sold and disposed of by the Official Liquidator pursuant to the order dated 20.09.2007 passed by this Hon le Court in OLR No. 205 of 2007. (C) This Honourable Court be pleased to pass any such other and /or further order (s), deemed just and proper, in the interest of justice. 11 Heard Mr. J R Shah, learned advocate for the applicant in Company Application No. 249 of 2014, Mr. R A Mishra, learned advocate for the applicant in Company Application No. 224 of 2013, preferred by the Oriental Bank of Commerce and Mr. J S Yadav, learne ..... X X X X Extracts X X X X X X X X Extracts X X X X
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