9911796707
TMI Blog2011 (2) TMI 1259X X X X Extracts X X X X X X X X Extracts X X X X ..... JUDGMENT 1. Today learned counsel for the respondent has submitted that he has not been able to contact his client to seek instructions for exploring the possibility of settlement as was volunteered by him on 13-9-2010 and further that in view of the fact that his client is no more in touch with him and has not even bothered to respond to his various letters requiring him to contact him for prosecution of present claim filed by the Official Liquidator against him he may be discharged from this matter as respondent s counsel. He has submitted that in this regard he has already moved separate application also, being Co. Appl. No. 148/2011. He has also submitted that in these circumstances this Court may proceed with the OLs petition whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 11,23,000 due from the respondent on account of the loan/advances taken by him together with interest and costs. A statement of account in respect of that loan account was annexed with the petition which shows that a sum of Rs. 9,75,000 was outstanding in the account of the respondent as on 31-3-1997. Since the respondent had not liquidated his aforesaid liability towards the Company under liquidation demand notices were served upon him but he failed to respond to them and consequently the Official Liquidator after taking over the charge of the Company under liquidation filed this petition. 6. Notice of this petition was sent to the respondent who entered appearance through his counsel and had sought time to file reply to the same. Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or made in the present petition by not filing any reply thereto the averments made in the petition stand admitted by him. The affidavit of the Deputy Official Liquidator Smt. Richa Kukreja has also remained unchallenged. 8. I am, therefore, of the view that it stands proved by the Official Liquidator that a sum of Rs. 12 lakhs was advanced to the respondent as a staff loan out of which a sum of Rs. 2,25,000 was repaid by him to the Company and a sum of Rs. 9,75,000 remained unpaid. Therefore, the respondent has become liable to suffer a decree for the aforesaid amount being the principal outstanding loan amount. 9. As far as the claim of interest, which amount appears to be included in the claim of Rs. 11,23,000 is concerned, the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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