9911796707
TMI Blog2005 (3) TMI 819X X X X Extracts X X X X X X X X Extracts X X X X ..... E SERVED BY DS for Respondent No. 4 MR SANDEEP SINGHI FOR SINGHI CO for Respondent No. 5 ORDER The applicant, Textile Labour Association, has taken out this Judge's Summons seeking direction from this Court to the O.L. to pay an amount of ₹ 62,49,52,487/- as and when the properties are sold and the proceeds are realised out of the sale of the assets of the Company. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter, the Chartered Accountant has submitted another report on 17.02.2004 and in the said report, the total claim of the Secured Creditors against the first and the second charge was worked out and ratio between the workers and Secured Creditors was also given in para 2 4 of Annexure A to the said report. As per the said report, the workers' claim was 55.97% and the Secured Creditors' cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p his claim of distribution on the basis of the ratio worked out by the Chartered Accountant in the first report because of the small difference between two workings, the Court, without going into the merits of this controversy and having kept the said issue open which may be decided in appropriate case, hereby directs the Official Liquidator to make payment in proportion to the ratio worked out b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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