M/s.Sirsilk Limited, a company under liquidation. By an order dated 26.04.2001 made in Company Petition No.57 of 1999, this Court directed for winding up of M/s.Sirsilk Limited. Consequently, by virtue of Section 449 of the Companies Act, 1956, the Official Liquidator attached to this Court became its liquidator. In pursuance of the statutory compliance and time to time directions of this Court, assets of the company in liquidation both movable and immovable were taken possession by the Official Liquidator and thereafter, got valued the properties of the company through M/s.APITCO Ltd. in the year 2003. Thereafter, with the permission of this Court, the Official Liquidator sold the company’s plant, machinery, furniture and vehicles situated at Sirpur Village, Kagaznagar, Adilabad District, for an amount ofRs.18,14,00,000/-. In view of the said realization of the partial sale of the properties of the company in liquidation, the claims were invited by the Official Liquidator in terms of the provisions of the Companies Act, 1956. In response thereto, the Official Liquidator received claims from various creditors and the same were adjudicated and admitted. The details are hereunder:
