IN THE HIGH COURT OF JHARKHAND AT RANCHI
Company Petition No. 5 of 1999
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Board of Industrial and Financial Reconstruction ... Petitioner
Versus
Raj Hans Steel Limited ... ... Respondents
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CORAM : HON'BLE MR. JUSTICE R. K. MERATHIA
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For the Applicant : M/s. Umesh Prasad Singh, Senior Advocate
& Ashok Kumar Sinha, Advocate
For the B.S.F.C. : Mr. A. K. Yadav, Advocate
For the Official Liquidator: Mr. B. Mishra, in person
For the BISICO : Mr. A. K. Das, Advocate
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79. 15.04.2011
: I. A. No. 3810 of 2010, I. A. No. 152 of 2011 &
Report of the Official Liquidator dated 01.03.2011:
It was submitted by Mr. U. P. Singh, learned senior
counsel appearing for the applicant that in view of the order dated
04.10.2010 passed by Hon’ble Supreme Court, this company petition
should be disposed of as a matter is pending before B.I.F.R., where
the parties are appearing.
Mr. A. K. Das, learned counsel appearing for the BISICO
pointed out that it is yet to be decided by B.I.F.R. whether creditors of
the company have been paid or not. He submitted that BISICO who is
one of the creditors has not been paid, and therefore, this matter may
be kept pending till the matter is decided by the B.I.F.R.
The official liquidator submitted that till further orders, the
expenses should be paid by the applicant.
After hearing the parties, the following order is passed.
The applicant will deposit Rs. 6,37,473/- against the
arrears of Mahalaxmi Detectives & Security Services P. Ltd. with the
official liquidator within two weeks, which he will keep in fixed deposit.
The applicant will pay the balance amount to the official liquidator as
per his report dated 01.03.2011 within one week. The auditor’s fee of
Rs. 25,000/- is settled at Rs. 10,000/-.
It further appears that Anjani Ferro Alloys was impleaded
as party in this proceeding. It was the sole bidder in the sale process.
Now the matter has been remitted by the Hon’ble Supreme Court
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before B.I.F.R. In the circumstances, the sale process is cancelled.
Now Anjani Ferro Alloys has got no locus standi in the proceedings.
Its earnest money, be refunded. However, it will be at liberty to take
part in fresh sale process, if any.
Till further orders, interim order dated 08.10.2010 shall
continue.
I. A. No. 3810 of 2010, I. A. No. 152 of 2011 & Report of
the Official Liquidator dated 01.03.2011 stand disposed of.
As prayed, let a copy of this order be handed over to the
official liquidator.
(R. K. Merathia, J.)
R. Shekhar Cp 2