In a company application seeking examination of respondents and recovery of dues, the court noted that respondents settled the applicant's claim via a demand draft and agreed to pay 50% of the Chartered Accountant fees. The application was disposed of accordingly.
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1
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 17TH DAY OF AUGUST, 2022
BEFORE
THE HON’BLE MR. JUSTICE S.R.KRISHNA KUMAR
COMPANY APPLICATION NO.150 OF 2011
IN
COMPANY PETITION NO.224 OF 2003
BETWEEN
THE OFFICIAL LIQUIDATOR M/S.FAIRGROWTH AGENCIES LIMITED (IN LIQN.) ATTACHED TO HIGH COURT OF KARNATAKA CORPORATE BHAVAN, NO.26-27, 12TH FLOOR RAHEJA TOWERS, M G ROAD, BANGALORE - 1
…APPLICANT
(BY SRI.SHRISHAIL NAVALGUND, ADVOCATE)
AND
2
…RESPONDENTS
(BY SRI JAYAVITTAL RAO KOLAR, SENIOR COUNSEL FOR SRI ANIL KEMBHAVI, ADVOCATE FOR R1 TO R3)
THIS COMPANY APPLICATION IS FILED UNDER SECTION 543(1) OF THE COMPANIES ACT, 1956 READ WITH RULE 260 OF THE COMPANIES (COURT) RULES AND POINTS OF CLAIM PRAYING TO a) SUMMON THE RESPONDENTS 1 TO 3 HEREIN FOR THE PURPOSE OF EXAMINATION WITH REGARD TO THE MATTER SPECIFIED THEREIN; b) DIRECT THE Ex-DIRECTORS TO MAKE GOOD THE AMOUNT OF Rs.14,59,510/- JOINTLY OR SEVERALLY AS DESCRIBED IN PARA 8a ABOVE TO THE OFFICIAL LIQUIDATOR TOGETHER WITH INTEREST @ 18% p.a. FROM THE DATE OF WINDING UP ORDER TILL THE DATE OF PAYMENT (or) ANY OTHER RATE AS MAY BE FIXED BY THIS HON'BLE COURT c) ORDER THAT LIBERTY BE GRANTED TO THE APPLICANT/OFFICIAL LIQUIDATOR TO FILE ADDITIONAL POINTS OF CLAIM ON RECEIPT OF THE INVESTIGATION REPORT BY THE CHARTERED ACCOUNTED APPOINTED BY THIS HON'BLE COURT; d) ORDER THAT THE RESPONDENTS TO PAY THE COSTS OF AND INCIDENTAL EXPENSES TO THIS APPLICATION; and e) PASS SUCH OTHER ORDER OR ORDERS AS THIS HON'BLE COURT MAY DEEM FIT AND PROPER IN THE CIRCUMSTANCES OF THE CASE.
3
THIS COMPANY APPLICATION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
Learned Senior Counsel for respondent Nos.1 to 3 has handed over a demand draft in a sum of Rs.5,67,836/- dated 16.08.2022 in favour of official liquidator towards full and final settlement to the claim of the official liquidator.
4
In view of the above facts and circumstances, the application is disposed of.
Sd/JUDGE
Mds
The Official Liquidator M/s.Fairgrowth Agencies Limited
Smt Prema Ratnakar
Sri Premanand R Shenoy
Sri Navin R Shenoy
S.R.Krishna Kumar
As recorded by the court registry
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