Disposed¶20

The Official Liquidator v. M/s.Ditech Process Solutions

Madras HC14 Nov 2025COMP.A/261/2018

Case brief

AI extract

What is this about?

First Leasing Company of India Limited (In Provisional Liquidation); Official Liquidator High Court Madras; recovery/settlement application against Ditech Process Solutions P. Ltd. (Executive Director Nizam Ahmed); lease agreement Clause 18 asset-return prayer; interest at 18% p.a. on debt of Rs.1,06,502.57; e-mail correspondence and corrected calculation sheets up to 17.10.2025; full and final settlement of Rs.2,44,465/- by Demand Draft No.500057 dated 10.11.2025 on ICICI Bank, Saki Vihar Branch; application closed as nothing survived; Madras High Court Comp.A.No.261 of 2018 in C.P.No.255 of 2014.

What did the court decide?

No fresh relief granted by decision; the respondent having paid Rs.2,44,465/- towards full and final settlement, nothing survived in the application and it was closed. ¶20

The Official Liquidator Vs M/s.Ditech Process Solutions — Madras HC (2025) — LawSathi Research

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED : 14.11.2025

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CORAM

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THE HONOURABLE MR.JUSTICE N. SENTHILKUMAR

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Comp.A.No.261 of 2018 in C.P.No.255 of 2014

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The Official Liquidator High Court, Madras, as the Liquidator of M/s.First Leasing Company of India Limited (In Provisional Liquidation) ... Applicant -vs-

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M/s.Ditech Process Solutions P.Ltd. Represented by its Executive Director Shri.Nizam Ahmed ... Respondent

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Prayer : Application is filed a) To direct the respondent/debtor Company to pay the debt due amount of Rs.1,06,502.57- towards entire settlement along with subsequent interest at 18 p.a. till the date of final payment. b) To direct the respondent / debtor to return the assets as per Clause 18 of the Lease Agreement C) To permit the Official Liquidator the cost of this application does come out of the funds of the Company in Provisional Liquidation.

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

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For Respondent : Ms.Aswany Ajaykumar

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

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ORDER

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The Official Liquidator has filed a memo dated 13-11-2025 stating that they have sent e-mail on 03-09-2025 to the learned counsel for the respondent informing the payment of Rs.2,42,035.37 on or before 15-09-2025. Since no reply was received, they sent another e-mail dated 25-09-2025 along with the calculation sheet made up to 30.09.2025. They have received e-mail from the learned counsel for the respondent on 11.10.2025, in which the interest calculation sheet has been made up to 17.10.2025 amounting to Rs.2,43,422.69. Since there was an error in the amount shown under interest on End Management Fee, the Official Liquidator has sent the corrected calculation sheet made up to 17.10.2025 amounting to Rs.2,43,350.68.

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According to the Official Liquidator, the respondent has paid a sum of Rs.2,44,465/- towards full and final settlement through Demand Draft dated 10.11.2025 bearing No.500057 drawn on ICICI Bank, Saki Vihar Branch.

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

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