Allowed

M/S.Kshemanidhi Kuries and Loans Pvt.Ltd. v. Jomy T.Jose

Kerala HC9 Mar 2022CC/97/2012

Case brief

AI extract

What is this about?

The court allowed the official liquidator to set off a deposit of Rs. 56,300/ made by respondents against a company claim for Rs. 45,000/. The balance was awarded to respondents, the claim was closed, and recovery proceedings withdrawn.

What did the court decide?

Set off of Rs. 45,000/- ordered; balance of Rs. 11,300/- awarded to respondents; company claim closed; recovery proceedings withdrawn.

M/S.Kshemanidhi Kuries and Loans Pvt.Ltd. Vs Jomy T.Jose — Company and Corporate | Kerala HC (2022)

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V.G.ARUN, J.

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========================= CC 97 OF 2012 IN C.P.No.9/2009

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========================= Dated this the 9^th day of March, 2022

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JUDGMENT

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The official liquidator has filed a statement pointing out that the company claim was filed against the respondent for realizing a sum of Rs.45000/- along with interest at the rate of 12% with effect from 25.1.2010, towards the balance amount due under 25^th day Pooval Kuri statement No.198A. The claim was decreed ex parte on 13.6.2013 and recovery proceedings was initiated against the respondent on 10.3.2016. The claim was filed on the basis of Account statement of the company submitted by the former Managing Director. Later, on verification of the statement, it was found that, prior to liquidation, the respondents had deposited Rs. 26300/- and Rs.30,000/respectively towards the Kuri security deposit. As such, the

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CC 97 OF 2012 IN C.P.No.9/2009 2

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respondents are creditors for Rs.26300/- and Rs.30,000/totaling an amount of Rs.56300/- which is liable to be set off. Hence, Official Liquidator seeks permission to set off Rs. 56,300/- towards the amounts due from the respondents and to admit the balance amount of Rs.11300/- to the respondents and the claim being thus fully satisfied, to withdraw the revenue recovery proceedings initiated for realization of the amount of Rs. 45,000/- with interest.

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2.Heard the Standing Counsel for the official liquidator and the learned counsel for the respondents.

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I find that the request to be well founded. Hence, the official liquidator is permitted to set off Rs.45,000/- towards the amount due to the respondents and to pay the balance amount of Rs.11300/- to the respondents. On setting off the amount of Rs.45,000/-, the company claim will stand fully satisfied and closed. The official liquidator shall forthwith withdraw the revenue recovery proceedings initiated against

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CC 97 OF 2012 IN C.P.No.9/2009

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the respondents.

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The company claim stands closed on the above terms.

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Sd/- V.G.ARUN

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 JUDGE

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SJ

M/S.Kshemanidhi Kuries and Loans Pvt.Ltd. v. Jomy T.Jose

Case brief

What is this about?

What did the court decide?

M/S.Kshemanidhi Kuries and Loans Pvt.Ltd. v. Jomy T.Jose

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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