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TMI Blog2002 (11) TMI 350X X X X Extracts X X X X X X X X Extracts X X X X ..... i.e., Bank of Baroda and IDBI should deposit the security charges with him. Ms. Buch, learned counsel appearing for the RMMS, the representative union in the textile industry, has handed over the minutes of a meeting held on October 29, 2002, of the High Power Committee. It appears that the committee has decided that 45 security guards would be sufficient to protect the property. The Committee has assessed that 98 security guards were not required. Leaned counsel for the Bank of Baroda submits that his clients will not bear any security expenses. It is reflected that in the meeting held before the official liquidator at the time of taking possession of the property the representative of the IDBI had agreed to bear security charges. Eve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l was Rs. 35 lakhs. There was another very serious complaint that on surprise checking it was found that the security guards were not present on the spot to guard the property and that thefts have taken place. It is a case of "who would watch the watchmen ?" From the reports placed today before me by the learned official liquidator it appears that he is seeking ratification from this court of his appointing private security guards agencies to protect the properties of the companies under liquidation. According to me, he ought to have first taken permission/orders from this court before taking the decision to appoint the security guards. At that time the say of the secured creditors also could have been recorded to obviate their objections ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... creditors. Even the work of valuation of the property should be given to one of the secured creditors so that the burden on the office of the official liquidator can be reduced. Even while making payment to the worker/s the office of the official liquidator should get him/them identified by the officer of the union of which he/ they/is/are member/s and should not make him spend heavily for identification by an unknown advocate As far as possible the identification should be got done by an officer of the employer or the union. I hereby direct the office of the official liquidator to follow these directions strictly. In the case of any difficulty it should get appropriate orders from the company court. The report is disposed of as abov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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