2018 (12) TMI 1676 - HC - Companies Law

Release of property - HELD THAT - The OL has in this report agreed to the request of the said Bank for releasing the property situated at A-2/2-25, Site B, Surajpur Industrial Area, Greater Noida, U.P. subject to IDBI Bank Ltd. agreeing to meet the liabilities of the workmen under Section 529 A of the Companies Act, if any, and also the cost of security provided to the property. Application and report disposed off.

Summary

Issues involved:
1. Fresh notice to Sh.Rajender Sharma and Mrs. Kiran Sharma
2. Disposal of CA No. 694/2013
3. Disposal of OLR No. 17/2017
4. Disposal of OLR No. 203/2018
5. Disposal of CA No. 770/2018
6. Listing of CO.PET. 194/2013 on 15.02.2019

Fresh Notice to Sh.Rajender Sharma and Mrs. Kiran Sharma:
The High Court ordered the issuance of a fresh notice to Sh.Rajender Sharma and Mrs. Kiran Sharma, returnable for 15.02.2019. It was further directed that the said individuals must remain personally present on the next date of hearing.

Disposal of CA No. 694/2013:
The application under CA No. 694/2013 was disposed of as it had become infructuous.

Disposal of OLR No. 17/2017:
The report under OLR No. 17/2017 was disposed of as it had also become infructuous.

Disposal of OLR No. 203/2018:
Regarding OLR No. 203/2018, the OL responded to CA No. 770/2018 filed by IDBI Bank Ltd. The OL agreed to the bank's request for releasing the property subject to the bank agreeing to meet the liabilities of the workmen under Section 529 A of the Companies Act and the cost of security provided to the property. The report was disposed of accordingly.

Disposal of CA No. 770/2018:
CA No. 770/2018 was disposed of in terms of the orders related to OLR No. 203/2018.

Listing of CO.PET. 194/2013 on 15.02.2019:
The Court directed the listing of CO.PET. 194/2013 on 15.02.2019 for further proceedings.