Allowed

The Official Liquidator v. M/s Js 24 Frames

Madras HC12 Jul 2024COMP.A/182/2023

Case brief

AI extract

What is this about?

Official Liquidator's application to recover dues from the ex-Managing Director of a wound-up company. Court found the claim proved on the statement of affairs, held respondent liable for Rs.1,00,000 with interest, and allowed the application.

What did the court decide?

Respondent directed to pay Rs.1,00,000 with 18% interest; Official Liquidator permitted to incur application costs from company funds

The Official Liquidator Vs M/s Js 24 Frames — Insolvency and Bankruptcy | Madras HC (2024)

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Comp.A.No.182 of 2023

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Comp.A.No.182 of 2023 in C.P.No.178 of 2015

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KRISHNAN RAMASAMY, J.

¶4

This application is filed to direct the respondent/debtor to pay a sum of Rs.2,26,147.95 towards dues as mentioned in para.5 along with subsequent interest at 18 percentage p.a. from 01.02.2023 to the date of full and final payment and to permit the Official Liquidator to incur the cost of this application from and out of the funds of the Company in provisional liquidation.

¶5

The learned Official Liquidator would submit that M/s.Gemini

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Industries & Imaging Limited had been wound up by virtue of order of this Court dated 29.01.2016 made in C.P.No.178 of 2015.

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Further she would submit that the Ex-Managing Director filed

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the statement of affairs of the said company. As per the statement of affairs, the respondent is liable to pay a sum of Rs.1,00,000/- along with interest at the rate of 18% p.a. The learned Official Liquidator would

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https://www.mhc.tn.gov.in/judis

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Page No.1/4

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Comp.A.No.182 of 2023

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submit that she has issued demand notice dated 07.06.2021 to the respondent with regard to the payment. Thereafter, final notice dated 10.10.2022 was also issued. However, though the respondent received the said notices, they have not come forward to settle the outstanding dues. Hence, the present application has been filed.

¶13

After filing of this application, notice was ordered and served to the respondent and the name of the respondent was also printed in the cause list. However, none appeared on behalf of the respondent, which shows that the respondent has no interest to contest this matter.

¶14

Upon hearing the learned Official Liquidator and perused the statement of affairs and averments made in the report filed by the learned Official Liquidator dated 20.02.2023, this Court is satisfied that the learned Official Liquidator had proved the claim against the respondent and hence, held that the respondent is liable to pay a sum of Rs.1,00,000/- as claimed by the learned Official Liquidator. Hence, this Court is inclined to allow this application.

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https://www.mhc.tn.gov.in/judis

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Page No.2/4

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Comp.A.No.182 of 2023

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Accordingly, this Application is ordered as prayed for.

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12.07.2024

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nsa

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https://www.mhc.tn.gov.in/judis Page No.3/4

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Comp.A.No.182 of 2023

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KRISHNAN RAMASAMY, J.

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nsa

¶25

Comp.A.No.182 of 2023 in C.P.No.178 of 2015

¶26

12.07.2024

¶27

https://www.mhc.tn.gov.in/judis Page No.4/4

The Official Liquidator v. M/s Js 24 Frames

Case brief

What is this about?

What did the court decide?

The Official Liquidator v. M/s Js 24 Frames

Case brief

What is this about?

What did the court decide?

What the court decided

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