Disposed

Official Liquidator of K. R. Commodities Exports Private Limited. (in Liquidation) v. Shree Renuka Sugars Limited and Anr. (Petitioner)

Bombay HC13 Jun 2024OLR/65/2024

Case brief

AI extract

What is this about?

Official Liquidator's report in the liquidation of a company sought permission to advertise for workers'/creditors' claims, dispense with individual notices, and engage a Chartered Accountant to adjudicate claims, with payments from company funds. Court allowed all three prayers.

What the court decided

AI extract

Official Liquidator of K. R. Commodities Exports Private Limited. (in Liquidation) vs Shree Renuka Sugars Limited and Anr. (Petitioner) — Bombay HC (2024) — LawSathi Research

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54-OLR-65-2024.doc

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Digitally signed by KANCHAN KANCHANPRASHANTDHURI PRASHANTDHURIDate:2024.08.02 10:32:55 +0530

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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. 65 OF 2024 IN

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COMPANY PETITION NO. 404 OF 2010

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In the matter of the Companies Act, 1956. And In the matter of K.R. Commodities Exports Pvt. Ltd. (in liquidation)

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Shree Renuka Sugars Limited and another … Petitioners

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Mr. Vrushabh Vig instructed by Crawford Bayley and Co. for the Petitioner in CP-404-2010.

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Ms. Prachi Pandya instructed by Corporate Attorneys for Noticee No.3. Mr. Harsh Moorjani, Advocate for the Official Liquidator.

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Mr. Chandan Kumar, Official Liquidator alongwith Mr. Anil Bhagure, Assistant Official Liquidator present.

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CORAM : ABHAY AHUJA, J. DATE : 1 AUGUST, 2024

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P.C. :

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Pursuant to the earlier order of this Court, today when the

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matter is called out, Mr. Moorjani appears for the Official Liquidator and submits that the notices have been served and seeks to tender Affidavit of service dated 31^st July 2024.

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Having heard Mr. Moorjani and having considered his submissions, the Official Liquidator’s Report is allowed in terms of

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Kanchan Dhuri 1/3

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54-OLR-65-2024.doc

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prayer clauses (a), (b) and (c), which reads thus :

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(a) In view of para (9) of this report, whether this Hon’ble court may be pleased to permit the Official Liquidator to invite the claims of the workers/creditors of the company (In Liqn) as required under Rule 148 of the Companies (Court) Rules, 1959 by issuing the advertisement in the newspapers i.e. “Free Press Journal” in English having circulation from Mumbai and “Pudhari” in Marathi having circulation from Pune, and further be pleased to permit the Official Liquidator to make payment to the advertising agency out of the fund lying to the credit of the Company (In Liqn.) subject to deduction of TDS, as applicable.

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(b) In view of para (10) of this report, whether this Hon’ble Court would be pleased to dispense with issuance of individual notices to the Workers/Creditors as required under Rule 148(2) of the Companies (Court) Rules, 1959. (c) In view of para (11) & (12) above, whether this Hon’ble Court may be pleased to allow the Official Liquidator to adjudicate said claims through the Chartered Accountant, and the Hon’ble High Court may be pleased to permit the Official Liquidator to make payment to the Chartered Accountant as and when the Official Liquidator receives the invoice/bill from them, from the funds lying to the credit of the Company (In Liqn.) as per the permitted scale of fees for the payment of Chartered Accountant for adjudication pursuant to the Hon’ble High

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Kanchan Dhuri 2/3

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54-OLR-65-2024.doc

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Court 07.02.2020 passed in OLR No.35 of 2020.

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Ms. Pandya who appears for the Financial Creditor has no objection if the report is allowed.

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The Official Liquidator’s Report is accordingly disposed of.

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(ABHAY AHUJA, J.)

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Kanchan Dhuri 3/3

Official Liquidator of K. R. Commodities Exports Private Limited. (in Liquidation) v. Shree Renuka Sugars Limited and Anr. (Petitioner)

Case brief

What is this about?

What the court decided

Official Liquidator of K. R. Commodities Exports Private Limited. (in Liquidation) v. Shree Renuka Sugars Limited and Anr. (Petitioner)

Case brief

What is this about?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

Case details

All orders in this case

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