TMI Blog2020 (5) TMI 560X X X X Extracts X X X X X X X X Extracts X X X X ..... e to the shares of RIL ought to be renounced in favour of the applicants. However, it the duty of the Official Liquidator to ensure that maximum value is realised for the assets of the CCML. If the shares of RIL are not subscribed or renounced, the entitlement would lapse and the same would be of no benefit to CCML or the applicants. In the circumstances, this Court considers it apposite to direct that its rights entitlement of CCML to subscribe to RIL s shares be sold at the maximum value as available. The principal relief sought by the applicant in the present application cannot be granted - application disposed off. - CO.PET. 191/1997 - - - Dated:- 14-5-2020 - HON BLE MR. JUSTICE PRATEEK JALAN Mr.Ramesh Babu, Ms.Manisha Singh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant getting 8450 shares registered in its name and obtaining accumulated benefits thereon; and/or (d) Alternatively, if the Official Liquidator has obtained duplicate shares in lieu of 8,450 shares belonging to the Applicant, direct the Official Liquidator to deliver 8,450 shares of the Company along with upto date Bonus Shares and Dividend thereon and also the shares allotted by the Company to M/S CRB Capital Markets Ltd. Along with Bonus Shares and Dividend thereon; and/or (e) dispose off CA No.491 of 2019 as nothing would survive after the Applicant is granted reliefs prayed herein; and/or (f) Pass such other further order(s) as this Hon ble Court may deem fit and proper in the facts and circumstances of the case. 2. The con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l appearing for the Official Liquidator states that Official Liquidator is not in a position to subscribe to the right shares of RIL. She also opposes the request of the applicant that the rights entitlement be renounced to them. 7. This Court is not persuaded to accept that the rights entitlement of CCML to subscribe to the shares of RIL ought to be renounced in favour of the applicants. However, it the duty of the Official Liquidator to ensure that maximum value is realised for the assets of the CCML. If the shares of RIL are not subscribed or renounced, the entitlement would lapse and the same would be of no benefit to CCML or the applicants. In the circumstances, this Court considers it apposite to direct that its rights entitlement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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