Single judge order allowing an application to keep a dividend account open for 60 days to enable dividend disbursement to unclaimed creditors.
Official Liquidator permitted to keep the dividend account open for a further period of 60 days.
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Comp.A.No.282 of 2021 in C.P.No.7 of 1976
SENTHILKUMAR RAMAMOORTHY J.
This application is filed to keep the dividend account open for a further
period of 60 days so as to enable disbursement of dividend.
2.The Deputy Official Liquidator points out that, by order dated 04.09.2020 in C.A.No.11 of 2020, the Official Liquidator was permitted to open
a dividend account. Pursuant thereto, notices were issued to the creditors of the company in liquidation. Out of 2454 creditors, 193 creditors were paid dividend through RTGS mode. However, a large number of dividend notices were returned unserved. Since the last date for disbursement of dividend lapsed on 10.05.2021 and 2261 creditors have not submitted their claims for dividend, the present application is filed.
3.Upon considering the above submissions and examining the affidavit
filed in support of the application, a case is made out to extend the time as prayed
for. Therefore, the Official Liquidator is permitted to keep the dividend account open for a further period of 60 days from the date of receipt of a copy of this
order. The consequential directions are also granted and the application is allowed as prayed for.
12.11.2021
smv
1/2
SENTHILKUMAR RAMAMOORTHY J.
smv
Comp.A.No.282 of 2021
in
C.P.No.7 of 1976
12.11.2021
2/2
SENTHILKUMAR RAMAMOORTHY J.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
