Official Liquidator sought approval to declare a further dividend of 2.50 paise in a rupee on Rs.1,60,97,539 admitted to Wipro Finance Private Limited, open a dividend account with Punjab National Bank, and remit unclaimed amounts to the Registrar of Companies under Section 555. The Court allowed the application as prayed for.
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Comp.Appln.No.120 of 2024 in C.P.No.332 of 1999
Comp.Appln.No.120 of 2024 in C.P.No.332 of 1999
KRISHNAN RAMASAMY, J.
This Application has been filed seeking the following reliefs:
a) To take this report on record.
b) To permit the Official Liquidator to declare a further dividend @2.50 paise
in a rupee on the admitted amount of Rs.1,60,97,539/- to M/s.Wipro Finance Private Ltd., Secured Creditors which is calculated and arrived at Rs.4,02,438/- as stated in para 5 of the report.
c) To permit the official Liquidator to open a separate dividend account with
Punjab National Bank, NSC Bose Road, Chennai-3 for a sum of Rs.4,02,438/exclusively for disbursement to Wipro finance Ltd.
d)To permit the official Liquidator to keep the dividend account open for 3 months from the date of opening and thereafter to remit the unclaimed amount, if any, to the Registrar of Companies, Tamil Nadu, Chennai under Section 555(1) and (3) of the Companies Act, 1956.
Comp.Appln.No.120 of 2024 in C.P.No.332 of 1999
KRISHNAN RAMASAMY, J.
arr
04.04.2024
arr
Comp.Appln.No.120 of 2024 in C.P.No.332 of 1999
1 issue framed by the court
Whether the Official Liquidator may declare a further dividend of 2.50 paise per rupee to the secured creditor from company-in-liquidation funds.
2 provisions across 1 enactments
Official Liquidator
M/s. Wipro Finance Private Ltd.
Krishnan Ramasamy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
