Allowed
Official Liquidator of Suprapti Plastics Ltd.(in Liquidation) v. Sicom Limited
Bombay HCOLR/48/2024
Case brief
AI extract
What is this about?
Official Liquidator's report seeking directions to declare dividend to secured creditor IARC, dispense with Rule 276 requirements, permit payment of dividend and transfer of Central Government Commission. Allowed in terms of prayer clauses (a) to (d).
What did the court decide?
OLR allowed in terms of prayer clauses (a) to (d): dividend declaration for IARC, dispensation of Rule 276, payment within six months, transfer of Central Government Commission.