The Official Liquidator Vs M/s.Assets Reconstruction Company India Limited — Madras HC (2025) — LawSathi Research

The Official Liquidator Vs M/s.Assets Reconstruction Company India Limited — Madras HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Application allowed in terms of prayers (b) and (c) of the Judge's summons - directions sought by the Official Liquidator granted: remittance of Rs. 6,11,441/- by the respondent to settle the claim of EPFO, and quantification/specification and disclosure by the respondent of its dues as on the date of winding up.

Issue for consideration

Whether the respondent (Assets Reconstruction Company India Limited) is liable to remit Rs. 6,11,441/- so as to enable the claim of EPFO to be discharged/settled. +1 more

Court's answer

Upon examining the Official Liquidator's report dated 26.03.2025 and the documents annexed thereto, the court held that the application is liable to be allowed, thereby granting the direction sought for remittance of Rs. 6,11,441/- by the respondent towards settlement of the EPFO claim.

Ratio / Principle

The application was allowed in terms of prayers (b) and (c) of the Judge's summons, which encompass the further direction sought that the respondent quantify and specify/disclose its dues as on the date of winding up.

Detailed headnote1 paragraphs

Company Application (Comp.A.No.106 of 2025 in C.P.No.137 of 2011) by the Official Liquidator, High Court of Madras, as Liquidator of M/s.Aryas Paper and Boards Mills Pvt. Ltd. (in Liquidation), against M/s.Assets Reconstruction Company India Limited - ALLOWED in terms of prayers (b) and (c) of the Judge's summons. The respondent failed to appear despite service of notice. On the strength of the Official Liquidator's report dated 26.03.2025 (recording the respondent's letter dated 13.03.2025 that Rs.80,01,000/- was recovered by sale of a house at Door No.201/2, Gnanagiri Road, Sivakasi, and that five more assets remain in the respondent's custody), the respondent was directed to remit Rs.6,11,441/- to enable the EPFO claim to be discharged, and to quantify, specify and disclose its total dues as on the date of winding up. Single Judge: Senthilkumar Ramamoorthy, J.; decided 01.08.2025.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 01.08.2025

CORAM

THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

Comp.A.No.106 of 2025 in C.P.No.137 of 2011

The Official Liquidator High Court, Madras as the Liquidator of M/s.Aryas Paper and Boards Mills Pvt. Ltd. (in Liquidation) ... Applicant

-vs-

M/s.Assets Reconstruction Company India Limited No.560-562, 1G, 1st Floor, Century Plaza, Anna Salai, Teynampet, Chennai - 600 018. ... Respondent

For Applicant : Ms.B.Ambili, Deputy Official Liquidator

ORDER

In spite of service of notice and the name of the respondent being printed in the cause list, the respondent has failed to appear and contest the application. By this application, the Official Liquidator seeks a direction to the respondent to remit a sum of Rs.6,11,441/- to settle the claim of EPFO. The Official Liquidator further seeks a direction to the respondent to quantify and specify its dues as on the date of winding up. In support of this

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SENTHILKUMAR RAMAMOORTHY,J

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application, the Official Liquidator has filed report dated 26.03.2025. In the report, the Official Liquidator has referred to the correspondence between the Official Liquidator and the respondent. In particular, letter dated 13.03.2025 from the respondent to the Official Liquidator stating that a sum of Rs.80,01,000/- was recovered by sale of a house bearing Door No.201/2, Gnanagiri Road, Sivakasi is referred to. In view thereof, the Official Liquidator submits that the respondent is liable to make the remittance of Rs.6,11,441/- so as to enable the claim of EPFO to be discharged. The Official Liquidator also states that the respondent should be directed to disclose its total dues since five more assets are said to be in the custody of the respondent.

Upon examining the report and the documents annexed thereto, this application is liable to be allowed. Accordingly, this application is allowed in terms of prayers (b) and (c) of the Judge's summons.

01.08.2025

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Comp.A.No.106 of 2025 in C.P.No.137 of 2011

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