Disposed

The Liquidator, Orkay'S Employees Co-Operative Credit Society Limited (in Liquidation)--Appl v. the Official Liquidator of M/S. ORKAy'S Industries Ltd. (in Liqn.)

Bombay HC29 Sept 2010CA/309/2010

Case brief

AI extract

What is this about?

The court disposed of a company application seeking direction for the Official Liquidator to adjudicate a claim of Rs. 34,88,224 under Section 49 of the Maharashtra Co-operative Societies Act, 1960.

What did the court decide?

Directed the Official Liquidator to adjudicate the claim within four weeks and submit a report; allowed inspection of records.

The Liquidator, Orkay'S Employees Co-Operative Credit… — Banking and Recovery | Bombay HC (2010)

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1 ca-309-10-cp-767-97

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I N THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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jmi

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COMPANY APPLICATION NO. 309 OF 2010 IN COMPANY PETITION NO. 767 OF 1997.

Rajendra B. Shah.

..Petitioner.

And

The Liquidator of Orkay's Employees Co-operative Credit Society Limited. ..Applicant.

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v/s.

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The Official Liquidator of M/s. Orkay's Industries Limited. ..Respondent.

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Mr. Kirit J. Hakani, for Applicant. Deputy Official Liquidator, present.

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CORAM : S.J. KATHAWALLA, J. DATE : 29TH SEPTEMBER 2010.

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P.C.

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By this Company Application, the Applicant seeks direction to the Official Liquidator, High Court, Bombay, to pay to the Liquidator of Orkay's Employees Credit Society Limited (in liquidation), a sum of Rs.34,88,224/- as per Exhibit-C to the affidavit in support of the Application or such sum as this Court may determine being the amount of loan installments deducted by the Company (in liquidation) from the salary of its workers towards the loan advanced to them by the said Co-operative Credit Society (now

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2 ca-309-10-cp-767-97

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in liquidation) as per the provisions of section 49 of the Maharashtra Co-operative Societies Act, 1960.

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The Official Liquidator is directed to adjudicate the claim of the Applicant within a period of four weeks from today and submit his report before this Court seeking necessary directions including the direction to call for the amounts from the Debt Recovery Tribunal received from sale of the assets of the Company for making payment to the Applicant. The learned Advocate appearing for the Applicant undertakes to co-operate with the Official Liquidator by providing all necessary documents in its possession. The learned Advocate appearing for the Applicant is also allowed to take inspection of all the records of the Company which are in possession of the Official Liquidator.

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The Company Application is accordingly, disposed of

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with no order as to costs.

The Liquidator, Orkay'S Employees Co-Operative Credit Society Limited (in Liquidation)--Appl v. the Official Liquidator of M/S. ORKAy'S Industries Ltd. (in Liqn.)

Case brief

What is this about?

What did the court decide?

The Liquidator, Orkay'S Employees Co-Operative Credit Society Limited (in Liquidation)--Appl v. the Official Liquidator of M/S. ORKAy'S Industries Ltd. (in Liqn.)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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