Industrial vs O.L on 29 July, 2008

   Gujarat High Court Case Information System 

  
  
    

 
 
    	      
         
	    
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COMA/76/2008	 2/ 2	ORDER 
 
 

	

 

IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
 

 


 

COMPANY
APPLICATION No. 76 of 2008
 

In


 

COMPANY
PETITION No. 261 of 2004
 

 
=========================================================

 

INDUSTRIAL
DEVELOPMENT BANK OFINDIA - Applicant(s)
 

Versus
 

O.L.
OF KENGOLD (INDIA) LTD. - Respondent(s)
 

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Appearance
: 
MR
BH BHAGAT for
Applicant(s) : 1, 
MR JS YADAV for Respondent(s) :
1, 
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CORAM
			: 
			
		
		 
			 

HONOURABLE
			MR.JUSTICE C.K.BUCH
		
	

 

 
 


 

Date
: 29/07/2008 

 

ORAL
ORDER

Indisputably,
the applicant is the sole secured creditor. Having considered the
contents of the application and the report dated 21st
February 2008 submitted by the Official Liquidator, by way of an
interim arrangement the Official Liquidator is directed to pay the
amount of Rs.1,50,00,000/- (Rupees One Crore Fifty Lakhs only) to
the applicant-Bank.

For
the purpose, the Official Liquidator may encash the F.D.Rs. and the
payment shall reach to the applicant-Bank on or before 06th
August 2008.

In
the meanwhile, the Official Liquidator shall also submit its final
report, including the figures of expenses incurred by the Official
Liquidator in the last auction, etc. The matter is adjourned to
12th August 2008.

(C.K.

Buch, J)

Aakar

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