Allowed
Edelweiss Asset Reconstruction Co. Ltd. v. The Official Liquidator
Madras HCCOMP.A/423/2024
Case brief
AI extract
What is this about?
A company application by the sole secured creditor of a company under liquidation sought distribution of Rs.90,50,000 sale proceeds of plant and machinery, with interest if available. The Official Liquidator filed a report disclosing the fund position and raised no objection. The Court directed disbursement of the amount and allowed the application.
What did the court decide?
Official Liquidator directed to disburse Rs.90,50,000/- of sale proceeds of plant and machinery to the applicant secured creditor.