ORDER
R.K. Merathia, J.
1. I.A. No. 3231 of 2006.
Heard the parties. It is submitted that the advance copy sent by IDBI was received by Official Liquidator on 30.6.2006. However, the next days being Saturday and Sunday, the original copy was served only on July 3, 2006.
In the circumstances, the affidavit regarding proof of debt submitted by IDBI should be treated to have been filed in time and the delay in filing such affidavit is condoned.
So far the matter of assignment by IDBI to SASF is concerned, the matter may be taken up with the Official Liquidator, who will take a decision on the same in accordance with law. I.A. disposed of.
2. I.A. Nos. 3073 and 3074 of 2006.
Heard the parties. Mr. Lakhan Sharma, appearing for the petitioners in these Interlocutory applications submitted that his clients did contract work in the Company under liquidation and certain machinery tools were left in the factory, the present value of which will be about Rs. 25.Q00/-. He further submitted that security money of Rs. 80,000/- in each case was deposited with the Company which should be returned.
Counsel appearing for the other parties submitted that such claims are frivolous and are highly belated. The factory was closed in 1997 but the applicants did not take steps for return of such things, if any left by them. Moreover, even as per the gate passes annexed, it will appear that the equipments were to be taken out of the factory, after completion of work. It is further submitted that no receipt of alleged security money has been produced.
I find force in the submissions that the claims are highly belated and doubtful. No case has been made out for return of the equipments.
However, if the claimants satisfy the official liquidator that they had deposited any security money, to which they are entitled to refund, they may raise such claims before the Official Liquidator, who will pass orders on such claims. Both I As disposed of.
3. I.A. No. 3159 of 2006. Heard the parties. The purchaser M/s. Jindal Steel and Rower Ltd. is allowed to use the BASAL Guest House and the Director’s Bungalow.
The Official Liquidator will take steps for getting the 139 quarters vacated. Put up I.A. for further orders on the next date.
4. I.A. No. 2110 of 2006 & I.A. No. 2455 of 2005. Heard the parties. The claim of return of 89 Hydrogen Gas Cylinders by Hindustan Heavy Chemicals Ltd., and 50 Gas Cylinders by Bansal Industrial (Bihar) Ltd. has been objected by the other parties on the ground that such claims are highly belated as the factory was closed as far back as In 1997.
In the circumstances, the Official Liquidator should enquire into the matter. He will inform the concerned parties about the date and time of inspection, so that if they wish they can be present. If the claimants satisfy him that the gas cylinders were on returnable basis and are available in the factory, an inventory will be prepared and a report will be filed by the Official Liquidator.
5. On the enquiry by the counsel for UCO Bank, Official Liquidator submitted that he has received the proof of debt in time.
6. Counsel appearing for Hindustan Heavy Chemicals Ltd. submitted that it was recorded by mistake in the order dated 6.7.2006 that it was a secured creditor.
Accordingly, the order dated 6.7.2006 is corrected to the extent that Hindustan Heavy Chemicals Ltd. is not secured creditor.
7. As prayed by Official Liquidator, he is permitted to file a report with regard to I.A. No. 2055 of 2006.
8. The claims of secured creditors should be settled in accordance with law as expeditiously as possible. The secured creditors will fully cooperate in early disposal of such claims.
The claim of the workmen if at par with secured creditors should be decided on priority basis, if possible by the next date. Mr. B.R.C. Prasad, appearing for the workmen, assures full cooperation in early disposal of the claim.
9. Mr. R.K. Sinha has handed over a cheque of ICICI Bank Ltd., bearing No. 422465 dated 22.11.2006 of Rs. 15,00,00,000.00 (payable at par), to the Official Liquidator, a copy of which should be kept on the record. The Official Liquidator will deposit the same in the fixed deposit in any Nationalized Bank.
Put up this case on December 7, 2006.
Let a copy of the order be handed over to Official Liquidator.