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BANK OF BARODA Versus OFFICIAL LIQUIDATOR OF ANJALI COATING PVT LTD & 2 -

2010 (2) TMI 1260 - GUJARAT HIGH COURT

COMPANY APPLICATION No. 1 of 2010 In COMPANY PETITION No. 292 of 1999 - Dated:- 22-2-2010 - HONOURABLE MR.JUSTICE D.A.MEHTA MS NALINI S LODHA FOR THE APPLICANT MR.HIREN M MODI, MR KM PARIKH FOR THE RESPONDENT ORAL ORDER 1. The Judges' Summons see .....

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56. 2. After hearing the parties and perusing the report filed by the Official Liquidator earlier in point of time the Court had called upon learned Advocate for the Official Liquidator to place on record complete details. In compliance with the said .....

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ve of amounts to be refunded to the Secured Creditors on the priority basis. In relation to the said statement following averments have been made in paragraph No.4 of Official Liquidator's Report dated 11.2.2010. 4. In view of the aforesaid facts .....

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towards reimbursement of the funds made available to Official Liquidator for Advertisement expenses, Security Expenses, valuation charges etc. and ₹ 54,84,375/- to Anyonya Co.Op. Bank Ltd. as full and final settlement of amount against their re .....

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an amount of ₹ 26,32,500/- amongst the workers of the company as per their respective entitlements on the basis of their individual claims as full and final payment. This Hon'ble Court may also be pleased to direct the Official Liquidator t .....

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te for the applicant Bank as well as learned Advocate for respondent No.2 Bank. Learned Advocate for Official Liquidator has also been heard. 4. In so far as provision made for amount payable to the Chartered Accountant for scrutiny of liquidation Ac .....

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provision was on the higher side. For the present it is not possible to accept the said submission in light of the averment made in latter part of paragraph No. 4 which is reproduced hereinbefore. Hence the averment made in latter part of paragraph N .....

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order dated 28.8.2009 made in OLR No. 100 of 2009. The Official Liquidator shall join the Secured Creditors as and when final sanction for the payment to be made to the Chartered Accountant for the aforesaid purpose is sought. 5. In the result, the O .....

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