Application to handover raw and finished goods was ruled infructuous due to a recommended destruction report. Court directed secured creditor to destroy materials and permitted applicant to file a claim.
Directed secured creditor to destroy identified materials by 25.10.2019; permitted applicant to file a claim with Official Liquidator.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
COMP.A.No.425 of 2018
COMP.A.No.425 of 2018 in C.P.No.123 of 2016 in C.S.No.163 of 2016
SENTHILKUMAR RAMAMOORTHY, J.
This application is filed to direct the secured creditor of the company in liquidation and the Official Liquidator to handover the raw materials and packing materials supplied by the applicant as also the finished products lying at the factory premises of the company in liquidation at the address specified in the Judges summons.
the company in liquidation in favour of a consortium of banks, including the 1st respondent, and that the secured creditor also had a charge over
all the other assets of the company in liquidation. Accordingly, the secured creditor was in possession of the said assets and the subject matter raw materials and finished products were also lying in the said factory. He further submitted that pursuant to the earlier orders of this
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COMP.A.No.425 of 2018
Court dated 07.06.2019, the Drug Controller of Tamil Nadu was directed to identify the nature of the finished goods and also packing materials and file a report before this Court.
state of affairs would not have ensued, but for the delay in handing over these goods to the applicant. Accordingly, he submitted that he should be permitted to file a claim before the Official Liquidator by filing Form 66.
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COMP.A.No.425 of 2018
undertake and complete the exercise on or before 25.10.2019 and report compliance. As requested, the applicant is permitted to file a claim with the Official Liquidator as and when the Official Liquidator calls for claims.
This application is disposed of with the above observations
and directions.
27.09.2019
bri
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COMP.A.No.425 of 2018
SENTHILKUMAR RAMAMOORTHY, J.
bri
COMP.A.No.425 of 2018
in C.P.No.123 of 2016 in
C.S.No.163 of 2016
27.09.2019
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APPLICANT
1st RESPONDENT
SENTHILKUMAR RAMAMOORTHY
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
