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2011 Supreme(Mad) 245

V.RAMASUBRAMANIAN
Indian Renewable Energy Development Agency Ltd. – Appellant
Versus
Official Liquidator – Respondent


Advocates appeared:
For the Applicants:Jose John for M/s.King and Partridge, Krishna Shrinivas for M/s. S. Ramasubramaniam & Associates, Advocates.
For the Respondents:R1, The Deputy Official Liquidator, R2, S. Vasudevan, R3, T.K. Ramkumar, R4, R. Umasudan, Advocates, R5 to R8, C. Harikrishnan, Sr. Counsel, R9, T.K. Seshadri, Sr. Counsel, R10, Dr. Anita Sumanth, M/s.Gupta and Ravi, Advocates.

Judgment :-

1. While C.A.No.1038 of 2006 is an application filed by a secured creditor of the company in liquidation, seeking a direction to the Official Liquidator to jointly advertise for the sale of the assets of the company, C.A.No.2486 of 2006 is by a company which supplied boiler to the company in liquidation, seeking to exclude the same from the list of properties sought to be sold by the secured creditor. The other two applications O.A.Nos.253 and 254 of 2005 are under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim measures pending initiation of arbitration proceedings by an unsecured creditor.

2. I have heard Mr.Jose John, learned counsel for the applicant, Mr.C.Harikrishnan, learned Senior Counsel appearing for the company in liquidation and its promoters-shareholders (respondents 5 to 8), Mr.T.K.Seshadri, learned Senior Counsel appearing for the ninth respondent (New Horizon Sugar Mills Ltd.), Mr.S.Vasudevan, learned counsel appearing for one of the secured creditors, Mr.Krishna Srinivas, learned counsel appearing for the applicant in C.A.No.2486 of 2006, Dr.Anita Sumanth, learned counsel appearing for Bharat Heavy Electricals Ltd. (applicant in






























































































































































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