Allowed

Sai Nikhil Reddy.C. v. The State of Tamil Nadu

Madras HC9 Jan 2017WP/454/2017

Case brief

AI extract

What is this about?

The Official Liquidator filed an application to value mortgaged company assets. The respondent did not appear. The court allowed the application, directing the liquidator to value the property or break locks if access was denied.

What did the court decide?

Permission granted to the Official Liquidator to value mortgaged property or break open locks if access is denied, and to meet expenses from company funds.

Sai Nikhil Reddy.C. Vs The State of Tamil Nadu — Execution and Attachment | Madras HC (2017)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(ORIGINAL JURISDICTION)

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TUESDAY, THE 21^st DAY OF NOVEMEBR 2017

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THE HON'BLE MR.JUSTICE M.M.SUNDRESH

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COMP.APPLN.NO.454 OF 2017 IN COMP.PETN.NO.230 OF 2004 In the matter of the Companies Act, 1956 And In the matter of RBF Nidhi Limited (In Liquidation)

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COMP.PETN.NO.230 OF 2004

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C.P.NO.230/2004:

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G.Krishnan S/o.Govindan, No.4-A, North Railway Station, Thiruvottriyur, chennai -600 019 ...Petitioner Vs. M/s.RBF Nidhi Limited Gokhale Bhavan, Old No.8, New No.15, West Cott Road, Royapettah Chennai -600 014 ...Respondent

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C.A.No.1144/2007:

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The Official Liquidator, High Court, Madras As the Provisional Liquidator of M/s.RBF Nidhi Limited (In Provisional Liquidation) ...Applicant Vs. K.Pandarinathan, 45/46.Mandaveli Street, Chennai-600 028 ...Respondent

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C.A.No.454/2017:

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The Official Liquidator, High Court, Madras as the Provisional Liquidator of M/s.RBF Nidhi Limited

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(In Provisional Liquidation) ...Applicant

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The Company applicant praying this court:-

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a)To take this reform on record to permit the Official Liquidator to value the mortgaged property through ITCOT or any other Registered Valuer as may be decided by this Hon'ble Court.

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b) To direct the respondent to grant full access to the Official Liquidator for the purpose of valuation of the property (or) to permit the Official Liquidator to break open the locks where access is denied to the mortgaged properties.

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c) To permit the Official Liquidator to meet the expenses for the valuation out of the funds of the company in liquidation.

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The Company Application coming on this day before this Court for hearing in the presence of Mr.P.Atchutha Ramaiah, Official Liquidator High Court, Madras for the Applicant herein and the Respondent not appearing in person or through Advocate and upon reading the Judge's Summons and Report of Official Liquidator filed herein, the Court made the following order:-

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“ Pursuant to the order dated 17.04.2006, the learned Official Liquidator was asked to take charge of the assets of the company in liquidation. The respondent herein availed mortgage loan way back in the year 1995. Asthe loan was not repaid, despite the guarantee given by the wife of

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the respondent, a decree was passed on 07.04.2011 in

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C.A.No.1144 of 2007. Though an application was filed seeking to set aside the same, it is yet to be numbered. Hence the present application has been filed by the learned Official Liquidator seeking the reliefs mentioned therein.

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2.Despite service of notice and the name of the counsel having been printed in the cause list, none appears for the respondent. Even otherwise, the decree has become final inter se parties, which is also known to the respondent. The very fact that the respondent has filed an unnumbered application would also hold for it. Therefore, the prayer sought for by the learned Official Liquidator has to be allowed, being consequential to the decree. Accordingly, the application stands ordered”.

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WITNESS, The HON'BLE MS.INDIRA BANERJEE, The Chief Justice of Madras High Court, as aforesaid this the 21^st day of November 2017.

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COURT OFFICER.

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From 25 th September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decree in this format.

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TE.04.05.2018

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COMP.APPLN.NO.454 OF 2017 IN COMP.PETN.NO.230 OF 2004

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ORDER DATED:21/11/2017

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THE HON'BLE MR.JUSTICE M.M.SUNDRESH

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FOR APPROVAL ON:15/05/2018

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APPROVED ON:15/05/2018

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To:

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The Official Liquidator, High Court, Madras.

Sai Nikhil Reddy.C. v. The State of Tamil Nadu

Case brief

What is this about?

What did the court decide?

Sai Nikhil Reddy.C. v. The State of Tamil Nadu

Case brief

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What did the court decide?

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