The Official Liquidator Vs

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Comp.A.No.164 of 2017 in C.P.No.216 of 2002

T.S.SIVAGNANAM,J

This is an application filed by the Official Liquidator seeking to (i) take on record the settled fourth supplementary list of creditors filed in Form 71 (Annexure A) under the Companies (Court) Rules, 1959; (ii) permit him to declare and pay dividend at the rate of 100 paise in a rupee and 4% interest on the admitted amount to 82 creditors, whose claims have been adjudicated, amounting to Rs.30,73,760; (iii) permit him to open a dividend account with the Punjab National Bank, NSC Bose Road, Chennai for the said sum; and (iv) to permit him to keep open the dividend account for six months from the date of opening the dividend account and thereafter transfer the unpaid dividend amount to the Government account as required under Section 555(10 and (3) of the Companies Act, 1956 and Rule 335 of the said Rules.

1. Heard the learned Official Liquidator.

1. M/s.Thiru Vi Ka Nagar Benefit Fund Limited was ordered to be wound up on 5.8.2008 and this Court appointed the Official Liquidator attached to this Court as the Provisional Liquidator of the said company to take charge of the assets and effects of the company in liquidation. Subsequently, by order dated 24.10.2008, the Official Liquidator was appointed as the Liquidator of the said company. Pursuant to the orders of this Court, the learned Official Liquidator took possession of the assets and

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realized a sum of Rs.2,81,50,000/- by way of sale of immovable assets and a sum of Rs.90,000/- towards sale of movables.