The Single Judge dismissed a company petition challenging the rejection of a monetary claim for post-winding-up interest. Relying on Rule 154, the court upheld the liquidator's order.
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In the High Court of Judicature for Rajasthan at Jaipur Bench, Jaipur
ORDER
S.B. Company Appeal No.2/2010 Jodhpur Vidyut Vitran Nigam Ltd. Vs. M/s. Sirohi Cement Ltd.
Date of Order : 4.9.2015
HON'BLE MR. JUSTICE ALOK SHARMA
Mr. Virendra Lodha Sr. Advocate with Mr. Jai Lodha for the appellant Ms. Sonal Singh for the respondent
A challenge has been made to the order dated 24.1.2005 whereby the claim of the appellant- Jodhpur Vidyut Vitran Nigam Limited (hereinafter 'the appellant Nigam') to the extent of Rs. 11,54,399.13 paisa was rejected on the ground that the said amount pertained to the interest after passing of the winding up order.
Heard the counsel for the appellantNigam.
Rule 154 of the Companies (Court) Rules 1959 (hereinafter 'the Rules of 1959') provides that the value of all debts and claims against the company shall, as far as is possible, be estimated according to the value thereof at the date of the order of the winding up of the company.
It is an admitted fact that the respondent company was wound up vide order dated 28.8.1995. On claims being invited by the Official Liquidator subsequent to the liquidation of the company was wound up, the appellant- Nigam submitted claim of Rs.
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37,64,166/- being the principal amount and further claim of Rs. 11,54,399.13 paisa being the interest on the principal amount on the date of submission of the claim i.e on 3.3.2003.
The Official Liquidator on
consideration allowed the claim of the appellant-Nigam to the extent of Rs. 37,64,166/- vide order dated 24.1.2005 and rejected the claim of the appellant-Nigam related to the interest for the period thereafter to the extent of Rs. 11,54,399.13 paisa.
I find no legal infirmity in the order dated 24.1.2005 as the aforesaid order has been passed in accordance with the obtaining Rules.
The company petition is without force. Accordingly dismissed.
(ALOK SHARMA), J
Sharma NK
“All corrections made in the judgment/order have been incorporated in the judgment/order being emailed.”
NK Sharma, Sr.P.A
1 issue framed by the court
Whether interest claimed after the winding-up order should be allowed as a debt against the company.
1 provisions across 1 enactments
Jodhpur Vidyut Vitran Nigam Ltd.
M/s. Sirohi Cement Ltd.
Allok Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
