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OLR/28/2010 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
OFFICIAL
LIQUDATOR REPORT No. 28 of 2010
In
COMPANY
PETITION No. 362 of 1999
=========================================
OFFICIAL
LIQUIDATOR OF M/S BHAGYODAYA PROTEINES PVT LTD - Applicant(s)
Versus
.
- Respondent(s)
=========================================
Appearance :
MR.HIREN
M MODI for
Applicant(s) : 1,
None for Respondent(s) :
1,
=========================================
CORAM
:
HONOURABLE
MR.JUSTICE M.R. SHAH
Date
: 26/04/2010
ORAL
ORDER
1. The
present Official Liquidator’s Report has been preferred by the
Official Liquidator of the Company in liquidation i.e. M/s.
Bhagyodaya Proteins Pvt. Ltd. (in liquidation) to permit him to
disburse an amount of Rs. 26,865/- to the only worker, an amount of
Rs. 4,68,888/- to the unsecured creditors and an amount of Rs.
89,88,480/- to the share applicants as mentioned in paragraph 9 of
the Official Liquidator’s Report as per the report of the Chartered
Accountant dated 12/01/2010.
2. It
is further prayed to ratify the action taken by the Official
Liquidator of making payment of Rs. 43,100/- towards professional
charge of M/s. V.V. Patel & Co., Chartered Accountant as per the
scheme approved by this Court for payment of fees to the Chartered
Accountant in terms of the order dated 28/08/2009 passed by this
Court in Official Liquidator’s Report No. 100/2009.
3. It
is also further prayed to permit the Official Liquidator to keep the
balance amount of Rs. 5,82,274/- for future liquidation expenses
after disbursement to the workers, unsecured creditor and the share
applicant money holders.
4. Shri
Hiren Modi, learned advocate appearing on behalf of the applicant has
submitted that after verification of the record and the statement of
one of the Director of the Company in liquidation, it appears that
except one employee there is no worker, as before the manufacturing
activity starts the Company had gone into liquidation. It is
submitted that the Chartered Accountant has got the claims made by
the unsecured creditors and the share applicants verified and as per
the Chartered Accountant the aforesaid amount is payable to the
unsecured creditors and the share applicants. It is submitted that
there are no other secured or unsecured creditors except those whose
claims have been verified by the Chartered Accountant.
5. In
view of the above, the Official Liquidator is hereby permitted to
disburse an amount of Rs. 26,865/- to the only worker, an amount of
Rs. 4,68,888/- to the unsecured creditors and an amount of Rs.
89,88,480/- to the share applicants. The same may be paid to the
respective parties by an account payee cheque on proper verification
and after getting necessary receipt. The said exercise to be
completed within a period of six weeks from today.
6. The
action of the Official Liquidator of the Company in liquidation for
making the payment of Rs. 43,110/- to the Chartered Accountant is
hereby ratified.
7. The
Official Liquidator is permitted to keep the balance amount of Rs.
5,82,274/- for future liquidation expenses etc. and the same shall
be invested in the Fixed Deposit.
8. With
this, the present Official Liquidator’s Report is disposed of.
(M.R.
SHAH, J.)
siji
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