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COMA/9/2008 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 9 of 2008
In
COMPANY
PETITION No. 173 of 1986
=========================================================
PANCHMAHAL
DISTRICT LABOUR FEDERATION - Applicant(s)
Versus
O.L.
OF KANKARIA CHEMICAL INDISTRIES LIMITED & 5 - Respondent(s)
=========================================================
Appearance
:
MR
DIPAK R DAVE for
Applicant(s) : 1,
OFFICIAL LIQUIDATOR for Respondent(s) :
1,
MR.HIREN M MODI for Respondent(s) : 1,
NOTICE SERVED for
Respondent(s) : 2, 5,
MR VIMAL M PATEL for Respondent(s) : 3,
MR
GAURAV S MATHUR for Respondent(s) : 4,
MR BHARAT JANI for
Respondent(s) :
6,
=========================================================
CORAM
:
HONOURABLE
MS.JUSTICE H.N.DEVANI
Date
: 29/09/2008
ORAL
ORDER
Vide
order dated 17.06.2008, made in the captioned application, this
Court had recorded from the report submitted by the Official
Liquidator that affidavit of proof of debt filed by IDBI Bank Ltd
and IFCI Bank are not supported by documentary evidence and ICICI
Bank Ltd., Punjab National Bank and Bank of Baroda have not made
their claims in the office of the Official Liquidator and therefore,
the office of the Official Liquidator is not in the position to work
out the ratio amongst the secured creditors and workers of the
Company. Accordingly fresh notice had been issued to the said
secured creditors, as their presence was found necessary to work out
the ratio.
Subsequently,
vide order dated 25.08.2008 this Court had directed the Official
Liquidator to send last reminders to the secured creditors so that
they can put forward their claims so as to decide the ratio; failing
which the Official Liquidator was to submit his final report as if
there is no claim from any secured creditor and the amount could
then be disbursed in favour of the workers.
Mr.
Hiren Modi, learned Advocate for the Official Liquidator states that
in compliance with the order dated 25.08.2008, the Official
Liquidator has vide communications dated 03.09.2008 sent reminders
to the secured creditors, however there is no response to the same.
Mr.
B.G. Jani, learned Advocate for the respondent no. 6, IFCI states
that necessary documents have already been submitted alongwith
affidavit of proof of debt to the Official Liquidator. However, the
respondent no. 6 is ready and willing to submit necessary documents
as indicated by the Official Liquidator within a period of one week
from today, if not already submitted by the IFCI.
Mr.
Gaurav Mathur, learned Advocate for the respondent no. 4 IDBI Bank
Ltd. has submitted that the IDBI Bank Ltd. had filed affidavit of
proof of debt on 10.09.2005. Subsequently, on 16.10.2007, all Charge
certificates had been filed and the office of the Official
Liquidator had received the same on 17.10.2007. It is submitted that
if there is any further requirement on the part of the IDBI Bank
Ltd., the Official Liquidator should indicate the same and the IDBI
Bank Ltd. would supply the same at the earliest, within a period of
one week thereafter.
It
may be noted that despite the earlier orders made by this Court as
well as the reminders sent by the Official Liquidator, ICICI Bank
Ltd. and Punjab National Bank and Bank of Baroda have not lodged
their claims with the office of the Official Liquidator. Insofar as
IDBI Bank Ltd. and IFCI are concerned, the learned Advocate for the
Official Liquidator states that the Official Liquidator shall inform
them as regards the documents required to be supplied by them within
a period of one week from today. The learned Advocates for IDBI Bank
Ltd. and IFCI state that upon the Official Liquidator informing
than as regards the documents to be supplied by them, IDBI Bank Ltd.
and IFCI shall submit the said documents to the Official Liquidator
within a period of one week thereafter.
Upon
receipt of the necessary documents from IDBI and IFCI within the
time limit stipulated hereinabove, the Official Liquidator shall
request the Chartered Accountant to submit the final report at the
earliest and preferably within a period of two weeks thereafter.
The
matter to be listed on 21.10.2008
Sd/-
(HARSHA
DEVANI,J.)
JYOTI
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