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2016 (8) TMI 171

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..... e pleased to direct the Official Liquidator to file his Report for the amount lying with him; B) This Hon'ble Court be pleased to direct the Official Liquidator to submit the report of the CA for considering/non considering the claims of various claimants pursuant to the advertisement made on 13/12/2011; C) This Hon'ble Court be pleased to pass the orders directing the O.L. for making payment to the share holders for residuary amount lying with him after compliance of Rules prescribed in the Act; D) ... ... ... 3. The present summons is filed by the ExDirector of the Company, namely, M/s. Real Laminates Private Limited (in liquidation) which came to be wound up by an order dated 9.1.2001 passed by this Court in Company Application no.228 of 2000. By the said order, the Official Liquidator attached to this Court was appointed as Official Liquidator to the Company in liquidation and accordingly, the Official Liquidator took possession of the assets and properties of the said Company. The record indicates that after possession was taken over, the Official Liquidator put to sale the immovable property situated at Village Rajpur, Taluka Kadi, District Mehsana and th .....

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..... nt to all the six claimants, out of which, two departments i.e. preferential creditors and two of the Unsecured Creditors have in fact given response to the same. The Official Liquidator has also contended before this Court that in view of the judgment of the Apex Court in Civil Appeal no.9630 of 2011, the provident fund dues should be given preference. The averment so made by the Official Liquidator is also supported and based upon the relevant annexures. The Provident Fund department has also appeared through the learned advocate Mr. E. Shailaja and has filed an affidavit dated 16.4.2014 and has declared before this Court that an aggregate amount of ₹ 7,930/-is payable as provident fund under Section 14B of the EPF MP Act, 1952 as well as the amount of ₹ 4,702/-is payable as provident fund dues. The applicant has filed a further rejoinder to the aforesaid report and has contended that the Central Excise Department as well as Commercial Tax Department have not produced any evidence to support their claim and that such preferential creditors are entitled to the amount of their claim including interest, if any, till the date of the order i.e. 9.1.2001. The Official Liq .....

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..... ite the official liquidator addressed a communication to the Income Tax Department. In that context, it is prayed that the Income Tax Department may be pleaded as party respondent so that its stand can be ascertained in respect of dues, if any claimable. 5. Having regard to the above facts emerging, the following order is passed: [a] Let the applicant join the Income Tax Department as party respondent. There shall be notice to the Income Tax Department, returnable on 8th October, 2014. [b] There shall be publication of notice in terms of Rule 276 being a notice of declaration to be published in two newspapers namely Indian Express and Sandesh, both Ahmedabad Edition. [c] Notice shall be caused published within 15 days from today. The expenses thereof shall be born by the respondent as stated by learned advocate for the applicant. [d] The official liquidator shall in the meantime also proceed to send letters by speed post addressing to the creditors individually as required under the rules. [e] The proposed disbursement shall take place not earlier than one month from the date of publication of notice. Stand over to 8th October, 2014. 5. In response to .....

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..... a further report dated 8.4.2016 based upon the order dated 1.9.2015 passed by this Court and has referred to factual matrix as well as the verification report dated 29.3.2016 of the Chartered Accountant and has prayed that the Official Liquidator be permitted to make payment to 13 contributories/shareholders amounting to ₹ 23,17,000/-. The record indicates that this Court passed a further order on 26.4.2016 as under:- 1. These Judges Summons have been taken out by the applicant, who is an ExDirector of M/s.Real Laminates Private Limited (In Liquidation) by making the following prayers: 10. This Hon'ble Court may further be pleased to pass the orders directing the O.L. for making payment to the shareholders for residuary amount lying with him after compliance of Rules No.275 to 280 prescribed in the Act; 11. This Hon'ble Court may also kindly be pleased to direct the Official Liquidator that he shall adjust the rights of the Contributories as per the list submitted by the ExDirectors of the Company along with the statement of affairs filed by the ExDirectors of the Company and shall pay the residuary amount after adjustment of legal claims in accordance w .....

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..... the Companies (Court) Rules, 1959 (the Companies (Court) Rules) and the same has been sent to the office of the Official Liquidator; therefore, the Official Liquidator may be permitted to make the payment to the thirteen Contributories / Shareholders, amounting to ₹ 23,17,000/-as per Form No.140 prepared by the Chartered Accountant in terms of Rule 279 of the Companies (Court) Rules, based on the Verification Report dated 29.03.2016 of M/s.Parikh and Majmudar, Chartered Accountants. 5. Mr.Hasurkar has further submitted that the Official Liquidator may be permitted to make the payment of ₹ 3,38,240/-to M/s.Navnitlal Co., Advertising Agency, towards the advertisement charges as per the Bill dated 26.09.2015, from the funds available with the Account of the Company. 6. It is further submitted by Mr.Hasurkar that the Official Liquidator may also be permitted to make the payment of ₹ 30,756/-, being the Excise duty (Rs.15,256 + Penalty of ₹ 15,500/-) being Government dues having a preferential claim or such other and further orders as may be deemed fit and proper in the matter. 7. Insofar as the permission for making the payment to the thirteen Contri .....

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