Allowed

Official Liquidator of Swadeshi Mills Company Ltd. v. B. I. F. R. (Petitioner)

Bombay HC19 Dec 2024OLR/127/2024

Case brief

AI extract

What is this about?

The Court extended the time granted to the Official Liquidator of SVADESHI MILLS COMPANY LIMITED by another six months to make payments to workers, creditors, and employees, deemed necessary as the previous deadline had not been met.

What did the court decide?

The period to make payments as granted vide orders dated 9th October 2023 and 26th April 2024 is extended by another six months.

Official Liquidator of Swadeshi Mills Company Ltd… — Insolvency and Bankruptcy | Bombay HC (2024)

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36-OLR-127-2024.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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OFFICIAL LIQUIDATOR’S REPORT NO. 127 OF 2024 IN

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COMPANY PETITION NO. 385 OF 2002

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IN THE MATTER OF COMPANIES ACT, 1 OF 1956

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AND

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IN THE MATTER OF SVADESHI MILLS COMPANY LIMITED

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B. I. F. R. )...PETITIONER

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Ms.Apurva Thipsay, Advocate for the Official Liquidator. Mr.Chandan Kumar, Official Liquidator, present in Court. Ms.Pooja Shah i/by Maneksha & Sethna, Advocate for the Respondent. Ms.Neha Sanji i/by Yash Jariwala, Advocate for the Rashtriya Mill Mazdoor Sangh.

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CORAM : ABHAY AHUJA, J. DATE : 19^th DECEMBER 2024

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P.C. :

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This Official Liquidator’s Report seeks further extension of six months time granted vide order dated 9^th October 2023 in Official Liquidator’s Report No. 149 of 2023 pursuant to which the Official Liquidator was directed to make payments to the workers/creditors/ employees through NEFT/RTGS within a period of six months from the

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36-OLR-127-2024.doc

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date of filing of the report or from the date of passing of the order of this Court, whichever was later.

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ARTI

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VILAS KHATATE

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Digitally signed by ARTI VILAS KHATATE Date: 2024.12.19 18:01:38 +0530

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Ms.Thipsay, learned Counsel, appearing for the Official Liquidator submits that since the date of passing of the order dated 9^th October 2023, six months’ period expired on 8^th April 2024 and thereafter Official Liquidator’s Report No.50 of 2024 was filed for extension of time for making payments after which this Court granted time to make payments till 25^th October 2024. However, since the payments are yet to be made, this Court may extend the said time by another six months for making payments to the workers, creditors and employees.

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Accordingly, the period to make payments as granted vide orders dated 9^th October 2023 and 26^th April 2024 is extended by another six months.

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The Official Liquidator’s Report, accordingly, stands allowed and disposed as above.

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(ABHAY AHUJA, J.)

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Official Liquidator of Swadeshi Mills Company Ltd. v. B. I. F. R. (Petitioner)

Case brief

What is this about?

What did the court decide?

Official Liquidator of Swadeshi Mills Company Ltd. v. B. I. F. R. (Petitioner)

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

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