liquidation at Rs.2,14,514/-. In addition, the Deputy Official Liquidator submits that further amounts may be payable to the counsel who handled the contempt petition. Therefore, he requested that the total expenditure be taken as Rs.2,55,000/-. In the said report, the Official Liquidator has set out a statement of income and expenses, wherein the total income has been quantified as Rs.4,83,45,367.70/- and the total disbursements / expenses as Rs.3,34,94,327.34/- leaving a balance of Rs.1,48,51,040.36/- as on 31.10.2019. In the earlier report of the Deputy Official Liquidator dated 01.11.2019, the Official Liquidator had stated that Income Tax proceedings are pending before the appellate authorities in respect of a demand of Rs.2,91,32,568/-. He had further stated that a total of 951 claims were received from the depositors and about 5411 depositors did not make claims. It was further stated therein that four claims were adjudicated later and that the admitted sum of Rs.1,33,750/has not been paid. Therefore, it is submitted that the Ex-Directors should undertake to discharge all pending and future claims.
