1999 (1) TMI 456

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..... the order of this Court dated 14-12-1998 and to comply with the directions which is contained in para 11 therein, offers were invited from firms of Chartered Accountants to carry out the work of writing the books and audit. The Official Liquidator has received quotations from four firms. The firm at Serial No. 4 at para 15 has quoted lump sum of Rs. 60 lakhs and firm at serial No. 2 has agreed .....

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..... out 17 secured creditors of which according to the Official Liquidator majority have to file their claim in respect of their secured debts. There is also direction by this Court that the allegation of fraud, misfeasance and misappropriation has to be looked into in terms of para 11(3) of the order of this Court. Considering what has been set out earlier and in the report following directions need .....

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..... counsel at the address to be left at the office of the Official Liquidator. The Union to nominate two persons for that purpose. The Official Liquidator permitted to carry out the valuation by appointing three valuers for the three units. 3. Prayer ( c ) of the Report is accepted. 4. Prayer ( d ) of the Report is accepted. Secured creditors are directed to advance the amount pro rata . .....

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