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2018 Supreme(Bom) 1134

K.R.SHRIRAM
Sterling Trade – Appellant
Versus
Official Liquidator through M/s. Trimbak Ispat Private Limited (in liquidation) – Respondent


Advocates Appeared:
For the Applicant : Mr. Monish K. Vig.
For the Respondent: Mr. Vishal Kanade I/b Satish S. Raut, Ms. Pradnya Sunil Tanksale, Assistant General Manager of SICOM, Ms. Vaishali R. Bhilare
For the Official liquidator : Mr. Naushad Engineer, Mr. Mahendhar Aithe

JUDGMENT :

1. In this official liquidator's report, the liquidator is seeking the following directions :

(a) In view of para (22 & 24) above, whether this Hon'ble Court would be pleased to permit the Official Liquidator to reimburse an amount of Rs.7,63,203/- (Rs.10,87,605/-) and Rs.1,76,915/- to SICOM (after adjusting the recovery) and Canara Bank respectively towards security Expenses under section 476 of the Companies Act, 1956;

(b) In view of para (23) above, whether this Hon'ble Court would be pleased to permit the Official Liquidator to declare and pay a dividend @ 20.539% amounting to Rs.16,08,143/- (Rs.17,85,058/-) to Canara Bank subject submission of an undertaking to bring back the amount along with interest as and when demanded by the Official Liquidator for settlement of any worker claim in future;

(c) In view of para (27) above, whether this Hon'ble Court would be pleased to permit the Official Liquidator to open a 'Separate Dividend Account' with Punjab National Bank, Punjab National Bank House, Fort, Mumbai with a sum of Rs.16,08,143/- (Rs.17,85,058/-) under Rule 290



































































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