The petitioner sought an extension of six months to issue payment notices and distribute dividends to workers and creditors. The Court allowed the extension due to cogent reasons stated in the Official Liquidator's Report.
Extension of six months for issuing payment notices and distributing dividends to workers and creditors vía NEFT/RTGS.
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2_OLR50_24.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
OFFICIAL LIQUIDATOR’S REPORT NO.50 OF 2024 IN
COMPANY PETITION NO.385 OF 2002
In the matter of Companies Act, 1 of 1956
and
In the matter of the Svadeshi Mills Company Limited (In Liquidation)
B.I.F.R.
… Petitioner
Mr. Apurva Thipsay for Official Liquidator.
Mr. Chandan Kumar, Official Liquidator.
Mr. Shehzad A. K. Najam-es-sani i/b. Maneksha & Sethna for Grand View Estates Private Limited.
CORAM : MANISH PITALE, J. DATE : APRIL 26, 2024
P.C. :
. Heard learned counsel for the petitioner.
MINAL Digitally signedby MINALSANDIP PARAB SANDIPPARAB Date:2024.04.2918:06:11+0530
“(a) That in view of para (24) above, whether this Hon’ble Court pleased to extend the time by another 06 (Six) months for issue of the pending Notice of Payment to the Workers/Creditors/Employees and also allow to distribute dividend to the remaining Workers/Creditors/Employees through NEFT/RTGS as per the Bank Account details provided by the concerned claimants in the ECS Mandate Form from the date of Order of the Hon’ble Court and thereafter the unpaid/ unclaimed amount be transferred to the Companies Liquidation Account maintained by the Registrar of Companies under Section 555 of the Companies Act, 1956.”
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2_OLR50_24.doc
(MANISH PITALE, J.)
Minal Parab
2/2
1 issue framed by the court
Whether the time limit for issuing payment notices and disbursing dividends to workers and creditors should be extended by six months.
1 provisions across 1 enactments
BI.F.R.
MANISH PITALE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
