9911796707
TMI Blog2016 (8) TMI 171X X X X Extracts X X X X X X X X Extracts X X X X ..... led by the ExDirector of the Company, namely, M/s. Real Laminates Private Limited (in liquidation) which came to be wound up by an order dated 9.1.2001 passed by this Court in Company Application no.228 of 2000. By the said order, the Official Liquidator attached to this Court was appointed as Official Liquidator to the Company in liquidation and accordingly, the Official Liquidator took possession of the assets and properties of the said Company. The record indicates that after possession was taken over, the Official Liquidator put to sale the immovable property situated at Village Rajpur, Taluka Kadi, District Mehsana and the said property came to be sold for a consideration of Rs. 2.45 crores as per the order dated 27.8.2010 passed by this Court in Official Liquidator Report no.156 of 2009. This Court, while disposing of the Official Liquidator Report no.156 of 2009 on the basis of the affidavit filed by the State Government has noted that the commercial tax liability to the tune of Rs. 4,13,787/-has to be discharged by the Official Liquidator as the same relates to prewinding up period and this Court further observed that on claim being filed by the Commercial Tax Officer, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14 and has declared before this Court that an aggregate amount of Rs. 7,930/-is payable as provident fund under Section 14B of the EPF & MP Act, 1952 as well as the amount of Rs. 4,702/-is payable as provident fund dues. The applicant has filed a further rejoinder to the aforesaid report and has contended that the Central Excise Department as well as Commercial Tax Department have not produced any evidence to support their claim and that such preferential creditors are entitled to the amount of their claim including interest, if any, till the date of the order i.e. 9.1.2001. The Official Liquidator thereafter filed a further report dated 23.6.2014 and interalia prayed that this Court may permit the Official Liquidator to make payment to the creditors of the Company in liquidation as per the claim verified by the verification report dated 24.5.2014 of M/s. Shah Dinesh Dahyalal and Associates, Chartered Accountants. The Official Liquidator has also prayed that the Unsecured Creditors be directed to file an undertaking along with the necessary documentary evidence proving their claim after receipt of the same and after receipt of the same, the Official Liquidator may be permitted to m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... desh, both Ahmedabad Edition. [c] Notice shall be caused published within 15 days from today. The expenses thereof shall be born by the respondent as stated by learned advocate for the applicant. [d] The official liquidator shall in the meantime also proceed to send letters by speed post addressing to the creditors individually as required under the rules. [e] The proposed disbursement shall take place not earlier than one month from the date of publication of notice. Stand over to 8th October, 2014." 5. In response to the same, the Official Liquidator has again filed a further report dated 6.8.2014 along with the documents in compliance with the order dated 11.7.2014 passed by this Court and has declared before this Court that the Official Liquidator has balance fund of Rs. 3,06,26,114/-as on 31.7.2014 and again prayed for permitting the Official Liquidator to make payment to the creditors of the Company in liquidation as per the verification report dated 4.8.2014. It may be noted that as per the said order, the IncomeTax Department was also added as respondent no.3. The Official Liquidator has thereafter filed a further report dated 10.9.2014. The Official Liquidator has fur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the O.L. for making payment to the shareholders for residuary amount lying with him after compliance of Rules No.275 to 280 prescribed in the Act; 11. This Hon'ble Court may also kindly be pleased to direct the Official Liquidator that he shall adjust the rights of the Contributories as per the list submitted by the ExDirectors of the Company along with the statement of affairs filed by the ExDirectors of the Company and shall pay the residuary amount after adjustment of legal claims in accordance with Section 475 of the Companies Act, 1956. 12. The Official Liquidator be directed to do all needful things as required to return of capital to Contributories with the permission of the Hon'ble Court; 13. In view of the facts stated above, the applicant, therefore prays the Hon'ble Court to direct the Official Liquidator to take immediate and urgent steps for the distribution of residual amount as prayed, which is long outstanding. 2. Mr.Mrugesh Jani, learned advocate for the applicant, has submitted that subsequent to the order dated 09.01.2001, passed in Company Petition No.228 of 2000, whereby the Company was directed to be woundup and after realizing the sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 26.09.2015, from the funds available with the Account of the Company. 6. It is further submitted by Mr.Hasurkar that the Official Liquidator may also be permitted to make the payment of Rs. 30,756/-, being the Excise duty (Rs.15,256 + Penalty of Rs. 15,500/-) being Government dues having a preferential claim or such other and further orders as may be deemed fit and proper in the matter. 7. Insofar as the permission for making the payment to the thirteen Contributories / Shareholders and making the payment of the Bill of the Advertising Agency is concerned, Mr.Mrugesh Jani, learned advocate for the applicant, has no objection. However, he has submitted that at this stage, no orders may be passed regarding the permission sought by the Official Liquidator to make the payment of Rs. 30,756/-towards Excise duty, and Government dues as the said claims are postwindingup dues. 8. Having heard learned counsel for the respective parties, this Court considers it just and proper to pass the following order: (a) The Official Liquidator is permitted to make the payment to thirteen Contributories/shareholders, amounting to Rs. 23,17,000/-as per Form No.140 in terms of Rule 279 of the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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