9911796707
TMI Blog2023 (10) TMI 1498X X X X Extracts X X X X X X X X Extracts X X X X ..... iance with the Companies Act, 2013. Application disposed off. X X X X Extracts X X X X X X X X Extracts X X X X ..... x weeks from the date of uploading of this order. (ii) The Applicant shall file undertakings to the effect: (a) that in case the amount of Rs. 240 Crores, to be deposited by the Applicant with the Official Liquidator, falls short to satisfy the liabilities of the Company in liquidation, the Applicant will deposit such further amount as may be necessary to discharge those liabilities; (b) that it will pay to any individual ex-worker who is not willing to accept the amount in accordance with the Agreement for Settlement, higher of the amount that may be adjudicated by the Official Liquidator in accordance with the order of the Division Bench dated 22 December 2015 and the amount which is payable under the Agreement for Settlement; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ator caused a public announcement to be taken out in terms of clause (iii) and (iv). The Official Liquidator did not receive any objection to the proposed permanent stay of the winding up of the Company. However, a group of 34 persons claiming to be ex-workers belatedly filed an application being Interim Application (L) No. 8053 of 2023, which was disposed off by way of an order dated 13.09.2023. As such, today there is no objection to the relief sought in the present application from any stakeholder. 5. With respect to clause (i) of paragraph 17 of the order dated 21.12.2022, the time to deposit the amount of Rs. 240 Crores was extended on 01.02.2023 and then on 13.09.2023. By way of order dated 13.09.2023 in Interim Application (L) No. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovable), assets and cash and all books of account, investment receipts, documents, paper and vouchers, articles and things, to the Applicant. The Official Liquidator is directed to do so within four weeks of this order. (C) (ii) Direct the Official Liquidator to prepare a statement of accounts alongwith the Assets and Liabilities of the company as on the date of the order granting permanent stay of its winding up, and to thereafter handover the same to the Applicant alongwith the memorandum and articles of association. The Official Liquidator is directed to do so within four weeks of this order. (C) (iii) Direct the Official Liquidator to address a letter to the Registrar of Companies and all such other authorities as may be required, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... event any individual ex-worker is not agreeable to accept the settlement amount, then they may intimate the same to the Official Liquidator within 60 days from today. The Applicant undertakes to ensure that such ex-worker is paid either the settlement amount, or the amount adjudicated by the Official Liquidator as per the order of the Division Bench dated 22.12.2015 in Appeal No. 447 of 2015, whichever is higher. E. The Company and its appointed board of directors shall comply with all provisions of law including Companies Act, 2013. F. The Registrar of Companies is directed to restore the status of the Company to "Active" within a period of three days from receipt of a certified copy of this order. 9. The Official Liquidator has, cons ..... X X X X Extracts X X X X X X X X Extracts X X X X
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