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M/S.Soumya Kuries and Loans (P) Ltd. (in Liquidation) v. Sri.Ajayan Pandary

Kerala HC11 Nov 2022CC/1701/2014

Case brief

AI extract

What is this about?

In this company liquidation claim, the Official Liquidator sought a decree for ₹42,694 with 12% interest. The respondents contested the excessive interest. Receiving submissions from both sides, the Court reduced the interest to 6% per annum and decreed the claim with payment directed within one month.

What did the court decide?

Company Claim decreed; respondents to pay ₹42,694 plus 6% interest from date of default; amount to be paid within one month.

M/S.Soumya Kuries and Loans (P) Ltd. (in Liquidation)… — Company and Corporate | Kerala HC (2022)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM (Original Jurisdiction)

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Present: THE HONOURABLE MR. JUSTICE N.NAGARESH Friday, the 11th day of November 2022/20th Kartika,1944

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In the matter of the Companies Act, 1956
and
In the matter of M/S.SOUMYA KURIES AND LOANS(P) LTD. (IN
LIQUIDATION)

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 CC.No.1701/2014 in CP. 11/ 2010

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CLAIMANT

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 M/S.SOUMYA KURIES AND LOANS(P) (IN LIQUIDATION)
 REPRESENTED BY THE OFFICIAL LIQUIDATOR, HIGH COURT OF
KERALA, ERNAKULAM.

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RESPONDENTS

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1.SRI.AJAYAN PANDARY
 S/o.SIVARAMAN,PANDARY HOUSE,KOORKANCHERY P.O,CHIYYARAM
 THRISSUR-680007.
 2.SMT.BINDU AJAYAN
 W/o.AJAYAN PANDARY,PANDARY HOUSE,KOORKANCHERY
 P.O,CHIYYARAM
 THRISSUR-680007.
 3.KUM.MEENAKSHI
 D/o. AJAYAN PANDARY,PANDARY HOUSE,KOORKANCHERY
 P.O,CHIYYARAM
 THRISSUR-680007

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This Claim coming on for hearing on this day in the presence of
SMT.S.JASMINE, Standing Counsel for the Official Liquidator and
SRI.SUSHANTH.J, Advocate for respondents 2 and 3 this Court
delivered the following:-

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C.C.No.1701 of 2014 in C.P.No.11 of 2010

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N.NAGARESH, J.

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C.C. No.1701 of 2014 in C.P. No.11 of 2010

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Dated this the 11^th day of November, 2022

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JUDGMENT

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This is a Claim filed by the Official Liquidator seeking for a decree directing the respondents to pay a sum of 42,694/-₹ with interest at the rate of 12% per annum from the date of default i.e., 09.04.2010 till the date of decree and thereafter

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12% interest per annum till the date of realisation.

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The respondents entered appearance and contested

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the Company Claim. The respondents mainly contended that

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the interest claim is excessive and the interest is liable to be waived.

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Having heard the counsel for the claimant and the

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C.C.No.1701 of 2014 in C.P.No.11 of 2010

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counsel for the respondents, this Court is of the view that taking into consideration the amount payable by the respondents, interest can be reduced to 6% per annum.

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In view of the above, the Company Claim is decreed and the respondents shall pay a sum of 42,694/- with interest at₹ the rate of 6% per annum from the date of default till the date of

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decree and thereafter at the rate of 6% interest per annum till

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the date of realisation. The respondents shall pay the amount within a period of one month.

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Sd/-

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N.NAGARESH JUDGE

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spk

M/S.Soumya Kuries and Loans (P) Ltd. (in Liquidation) v. Sri.Ajayan Pandary

Case brief

What is this about?

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M/S.Soumya Kuries and Loans (P) Ltd. (in Liquidation) v. Sri.Ajayan Pandary

Case brief

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What did the court decide?

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