{"id":13781,"date":"2011-04-15T00:00:00","date_gmt":"2011-04-14T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/b-i-f-r-vs-ms-rajhansh-steel-ltd-on-15-april-2011"},"modified":"2016-07-19T17:31:16","modified_gmt":"2016-07-19T12:01:16","slug":"b-i-f-r-vs-ms-rajhansh-steel-ltd-on-15-april-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/b-i-f-r-vs-ms-rajhansh-steel-ltd-on-15-april-2011","title":{"rendered":"B.I.F.R. vs M\/S.Rajhansh Steel Ltd. on 15 April, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Jharkhand High Court<\/div>\n<div class=\"doc_title\">B.I.F.R. vs M\/S.Rajhansh Steel Ltd. on 15 April, 2011<\/div>\n<pre>           IN THE HIGH COURT OF JHARKHAND AT RANCHI\n                Company Petition No. 5 of 1999\n                          ---\n\n           Board of Industrial and Financial Reconstruction ...           Petitioner\n                                    Versus\n           Raj Hans Steel Limited                        ...      ...       Respondents\n                             ---\n\n\n           CORAM        : HON'BLE MR. JUSTICE R. K. MERATHIA\n                               ---\n           For the Applicant          : M\/s. Umesh Prasad Singh, Senior Advocate\n                                             &amp; Ashok Kumar Sinha, Advocate\n           For the B.S.F.C.           : Mr. A. K. Yadav, Advocate\n           For the Official Liquidator: Mr. B. Mishra, in person\n           For the BISICO             : Mr. A. K. Das, Advocate\n\n                              ---\n\n79. 15.04.2011<\/pre>\n<p>:         I. A. No. 3810 of 2010, I. A. No. 152 of 2011 &amp;<br \/>\n                        Report of the Official Liquidator dated 01.03.2011:<br \/>\n                        It was submitted by Mr. U. P. Singh, learned senior<br \/>\n           counsel appearing for the applicant that in view of the order dated<br \/>\n           04.10.2010 passed by Hon&#8217;ble Supreme Court, this company petition<br \/>\n           should be disposed of as a matter is pending before B.I.F.R., where<br \/>\n           the parties are appearing.\n<\/p>\n<p>                        Mr. A. K. Das, learned counsel appearing for the BISICO<br \/>\n           pointed out that it is yet to be decided by B.I.F.R. whether creditors of<br \/>\n           the company have been paid or not. He submitted that BISICO who is<br \/>\n           one of the creditors has not been paid, and therefore, this matter may<br \/>\n           be kept pending till the matter is decided by the B.I.F.R.\n<\/p>\n<p>                        The official liquidator submitted that till further orders, the<br \/>\n           expenses should be paid by the applicant.\n<\/p>\n<p>                        After hearing the parties, the following order is passed.<br \/>\n                        The applicant will deposit Rs. 6,37,473\/- against the<br \/>\n           arrears of Mahalaxmi Detectives &amp; Security Services P. Ltd. with the<br \/>\n           official liquidator within two weeks, which he will keep in fixed deposit.<br \/>\n           The applicant will pay the balance amount to the official liquidator as<br \/>\n           per his report dated 01.03.2011 within one week. The auditor&#8217;s fee of<br \/>\n           Rs. 25,000\/- is settled at Rs. 10,000\/-.\n<\/p>\n<p>                        It further appears that Anjani Ferro Alloys was impleaded<br \/>\n           as party in this proceeding. It was the sole bidder in the sale process.<br \/>\n           Now the matter has been remitted by the Hon&#8217;ble Supreme Court<br \/>\n<span class=\"hidden_text\">                                             -2-<\/span><br \/>\n                  before B.I.F.R. In the circumstances, the sale process is cancelled.<br \/>\n                  Now Anjani Ferro Alloys has got no locus standi in the proceedings.<br \/>\n                  Its earnest money, be refunded. However, it will be at liberty to take<br \/>\n                  part in fresh sale process, if any.\n<\/p>\n<p>                                Till further orders, interim order dated 08.10.2010 shall<br \/>\n                  continue.\n<\/p>\n<p>                                I. A. No. 3810 of 2010, I. A. No. 152 of 2011 &amp; Report of<br \/>\n                  the Official Liquidator dated 01.03.2011 stand disposed of.\n<\/p>\n<p>                                As prayed, let a copy of this order be handed over to the<br \/>\n                  official liquidator.\n<\/p>\n<p>                                                        (R. K. Merathia, J.)<\/p>\n<p>R.\u00a0Shekhar\u00a0Cp\u00a02\n <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jharkhand High Court B.I.F.R. vs M\/S.Rajhansh Steel Ltd. on 15 April, 2011 IN THE HIGH COURT OF JHARKHAND AT RANCHI Company Petition No. 5 of 1999 &#8212; Board of Industrial and Financial Reconstruction &#8230; Petitioner Versus Raj Hans Steel Limited &#8230; &#8230; Respondents &#8212; CORAM : HON&#8217;BLE MR. JUSTICE R. K. MERATHIA &#8212; For the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,18],"tags":[],"class_list":["post-13781","post","type-post","status-publish","format-standard","hentry","category-high-court","category-jharkhand-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>B.I.F.R. vs M\/S.Rajhansh Steel Ltd. on 15 April, 2011 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/b-i-f-r-vs-ms-rajhansh-steel-ltd-on-15-april-2011\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B.I.F.R. vs M\/S.Rajhansh Steel Ltd. on 15 April, 2011 - Free Judgements of Supreme Court &amp; 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