Gujarat High Court Case Information System
Print
COMA/268/2011 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 268 of 2011
In
OFFICIAL
LIQUDATOR REPORT No. 81 of 2010
In
COMPANY
PETITION No. 277 of 1997
=========================================================
INDIAN
BANK - Applicant(s)
Versus
OFFICIAL
LIQUIDATOR OF M/S SATNAM EXPORTS(INDIA) LTD & 1 - Respondent(s)
=========================================================
Appearance
:
MRNRPARIKH
for
Applicant(s) : 1,MRDHARMESHVSHAH for Applicant(s) :
1,
OFFICIALLIQUIDATOR for Respondent(s) : 1,
MRNITINKMEHTA for
Respondent(s) : 1,
MRBHBHAGAT for Respondent(s) :
2,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE K.M.THAKER
Date
: 29/07/2011
ORAL
ORDER
The
Official Liquidator has filed a report. The issue which remains
before the Court is about disbursement of the sale proceeds, amongst
the secured creditors and the workmen. It appears from the report
that the composite offer was accepted which included plant and
machinery. Therefore, there appears to be some difference between the
secured creditors who had first and second charge over the two
properties of the company in liquidation which came to be sold during
auction process. The ratio for the purpose of disbursement is
required to be determined. So as to enable the secured creditors
either to settle the same inter se in consultation with the
Official Liquidator or to file their objections, time is granted
until 17th August 2011. S.O. to 17th August
2011.
(K.M.THAKER,
J.)
jani
Top