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TMI Blog2020 (9) TMI 1005X X X X Extracts X X X X X X X X Extracts X X X X ..... advocate Mr. Vishal Patel for respondent no.2, learned advocate Mr. B.H. Bhagat for respondent no.3 learned advocate Mr. D.S. Vasavada for respondent no.4 and learned advocate Mr. D.K. Puj for respondent no.5 through video conference. 2. These company applications are filed by the State Bank Of India and Textile Labour Association for the disbursement of the amount lying with the Official Liquidator pursuant to the auction sale conducted as per the order passed by this Court dated 9th February 2018 in case of Commercial Ahmedabad Mills Ltd., (in liquidation) in Company Application no.60 of 2017. 3. Thereafter, this Court passed an order dated 31st January 2019 in Official Liquidator Report no.81 of 2018 whereby the Official Liquidator of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 :- Particulars Amount in Rupees Claimant Reference Interest on Principal Payment from (11.10.1989 to 30.03.2018) 11,67,882 IFCI Conclusion-I Amount of Security and Insurance Charge 4,00,553/- Conclusion-I Interest on Principal Payment from (11.10.1989 to 30.03.2018) 2,81,03,886/- IDBI Conclusion-II Amount of Security and Insurance Charge 14,06,331/- Conclusion-II Interest on Principal Payment from (11.10.1989 to 28.03.2018) 9,93,77,016/- SBI Conclusion-III Leave Encashment, Bonus to the date of closure i.e. 28.10.1985 to 11.10.1989, Notice Salary, Interest at simple rate of 4% from 11.10.1989 to 09.02.2018) on Outstanding Salary, Gratuity and Retrenchment as on 11.10.1989 till date of payment & interest at simple ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of Security and Insurance Charge as per claim Lodged 16,06,331/- Amount of Interest considered as payable (I) 2,81,03,886/- Conclusion-II Annexure B of our report dated 24.01.2020 Amount of Security and Insurance Charge considered as payable (II) 16,06,331/- Total (I+II) 2,97,10,217/- 10. The official liquidator also received a letter dated 6th February 2020 from the State Bank of India with a request to consider the revised claim of Rs. 10,77,03,280.24 instead of Rs. 9,93,77,016/. The official liquidator thereafter, received reverification report dated 18th February 2020 from the Talati & Talati, Chartered Accountant in respect of the claim of the State Bank of India as under :- Particulars Amount in R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s perused the report submitted by the Talati & Talati, Chartered Accountant dated 24th January 2020 together with Re-verification report dated 18th February 2020 for the claim of IDBI and State Bank of India. 14. In view of the above fact situation, the Official Liquidator is directed to disburse the following amount from the balance lying in the account of the company in liquidation. Sr. No. Claimant Particulars Amount in Rupees 1. IFCI I. Interest on Principal Payment from (11.10.1989 to 30.03.2018) 11,67,882/- II. Amount of Security and Insurance Charge 4,00,553/ Total:- 15,68,435/- 2. Workers Leave Encashment, Bonus to the date of closure i.e. 28.10.1985 to 11.10.1989, Notice Salary, Inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ably within the period of four weeks from today. 17. The Official Liquidator is further directed that the amount payable to the secured creditors and unsecured creditors shall be deposited within the period of two weeks from the date of receipt this order directly in the bank account of the respective claimants by IMPS/RTGS/NEFT for which the respective advocates are directed to provide details of the bank account to the official liquidator at the earliest. 18. With the aforesaid directions, Company Application no.15 of 2020 and Company Application no.30 of 2020 are disposed of. 19. In view of the disposal of the Company Application no.15 of 2020, no direction is required to be given in connected Civil Application no.1 of 2020 in Company ..... X X X X Extracts X X X X X X X X Extracts X X X X
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