{"id":62652,"date":"2011-05-02T00:00:00","date_gmt":"2011-05-01T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/appearance-vs-mr-js-yadav-for-on-2-may-2011"},"modified":"2017-09-19T06:40:22","modified_gmt":"2017-09-19T01:10:22","slug":"appearance-vs-mr-js-yadav-for-on-2-may-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/appearance-vs-mr-js-yadav-for-on-2-may-2011","title":{"rendered":"Appearance : vs Mr Js Yadav For on 2 May, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Appearance : vs Mr Js Yadav For on 2 May, 2011<\/div>\n<div class=\"doc_author\">Author: Anant S. Dave,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nCOMA\/365\/2010\t 2\/ 2\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCOMPANY\nAPPLICATION No. 365 of 2010\n \n\n=========================================\n \n\nTEXTILE\nLABOUR ASSOCIATION \n\n \n\nVersus\n \n\nOFFICIAL\nLIQUIDATOR OF RAIPUR MANUFACTURING CO LTD &amp; others\n \n\n=========================================\n \nAppearance : \nMR\nDS VASAVADA for Applicant \nMR JS YADAV for Respondent(s) : 1, \nMR\nANIP A GANDHI for Respondent(s) : 6, \nMR MD RANA for Respondent(s)\n: 8 \nMs. Sangeeta Pahwa for MR NAVIN K PAHWA for Respondent(s) :\n14, \n======================================\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE ANANT S. DAVE\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 02\/05\/2011 \n\n \n\n \nORAL\nORDER<\/pre>\n<p>1\tHeard<br \/>\nthe learned advocates for the parties.\n<\/p>\n<p>2\tApplicant,<br \/>\nTextile Labour Association, has filed this application with a prayer<br \/>\nto work out the property-wise ratio and to disburse the amount in<br \/>\nproportionate to the ratio fixed by the  Chartered Accountant.  In<br \/>\nsupport of Judge&#8217;s Summons, affidavit is also filed by the authorized<br \/>\nsignatory and it is claimed that the workers are at least entitled to<br \/>\nRs.4.55 crores along with interest to be paid by them. It is further<br \/>\nsubmitted that, at least, ad-hoc and provisional disbursement may be<br \/>\nmade subject to realization of further amount by sale of property and<br \/>\nconsidering the Official Liquidator Report dated 19.1.2011.\n<\/p>\n<p>3\tLearned<br \/>\ncounsel for the secured creditors have submitted that the documents<br \/>\nsubmitted by them including charge registration documents be also<br \/>\nverified and the amount may also be disbursed to them by the Official<br \/>\nLiquidator.\n<\/p>\n<p><span class=\"hidden_text\">4\t<\/span><\/p>\n<p>In paragraph 3, the Official Liquidator has referred to the report of<br \/>\nthe  Chartered Accountant dated 26.1.2010 and the total claim of the<br \/>\nsecured creditors received by  the Official Liquidator and on<br \/>\nverification of the claims of the secured creditors of the company,<br \/>\nthe amount found admissible to them by  the  Chartered Accountant is<br \/>\nalso referred. Paragraph 4 of the report refers to the ratio of<br \/>\ndistribution\/disbursement of the fund available with   the Official<br \/>\nLiquidator to the secured creditors as well as workers  and,<br \/>\naccordingly, ratio of 63.7% is worked out in favour of the workers.<br \/>\nThe report also refers to the order dated 23.8.2004 passed by the<br \/>\nlearned Company Judge in Company Application No.302 of 2003 by which<br \/>\ndisbursement of Rs.5 crore was ordered to be paid having found first<br \/>\ncharge in favour  of the secured creditors on the assets of the<br \/>\ncompany and, in fact, the said amount was paid by the ICICI to other<br \/>\nsecured creditors. Reference is also made to the order dated 7.5.2008<br \/>\nin OLR No.138 of 2006  by  the learned Company Judge and pendency of<br \/>\nOJ Appeal No.141 of 2008 before this Court and availability of funds<br \/>\nof Rs.5.10 crore in the account of the company.\n<\/p>\n<p>5\tIn<br \/>\nview of the above and particularly on earlier occasion Rs.5 crore<br \/>\neach was disbursed amongst secured creditors and the workers  and<br \/>\nconsidering the ratio of workers fixed by the  Chartered Accountant<br \/>\nas 63.57% for further disbursement in favour of workmen out of fund<br \/>\nof Rs.5.10 crores, keeping the balance amount for disbursement to<br \/>\nother secured creditors, at this stage, I am inclined to grant<br \/>\nprovisional disbursement in favour of the workmen to the tune of Rs.3<br \/>\ncrores to be paid by the Official Liquidator from the account of the<br \/>\ncompany as per normal procedure followed by  the Official Liquidator<br \/>\nthrough account payee cheque on proper identification by the<br \/>\nauthorized representative of the TLA.\n<\/p>\n<p>\tWith<br \/>\nthe aforesaid direction, this application is allowed.\n<\/p>\n<p>(ANANT<br \/>\nS. DAVE, J.)<\/p>\n<p>(swamy)<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Appearance : vs Mr Js Yadav For on 2 May, 2011 Author: Anant S. Dave,&amp;Nbsp; Gujarat High Court Case Information System Print COMA\/365\/2010 2\/ 2 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY APPLICATION No. 365 of 2010 ========================================= TEXTILE LABOUR ASSOCIATION Versus OFFICIAL LIQUIDATOR OF RAIPUR MANUFACTURING CO LTD [&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":[16,8],"tags":[],"class_list":["post-62652","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Appearance : vs Mr Js Yadav For on 2 May, 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\/appearance-vs-mr-js-yadav-for-on-2-may-2011\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Appearance : vs Mr Js Yadav For on 2 May, 2011 - Free Judgements of Supreme Court &amp; 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