O/L of M/S Nine Apparels Pvt. Ltd. v. M/S Alternate Clothing Pvt. Ltd. Andothers
Case brief
What is this about?
Official Liquidator sought closure of multiple recovery proceedings against sundry debtors of a company in liquidation, citing ex-directors' disclaimer of interest, untraceable debtors, meagre recoveries and remote prospects of recovery. With no objection from parties, the Court disposed of all applications directing that any amount recovered be deposited in the Common Pool Fund after adjusting ex
What did the court decide?
Recovery proceedings closed; any amount recovered by the Official Liquidator to be deposited in the Common Pool Fund after adjusting expenses.