The court accepted the Official Liquidator's report seeking dividend distribution to workmen and allowed the application to permit distribution of 50% of the dividend.
Permission to distribute 50% of the dividend (Rs. 13,26,307.50) to 131 workmen as per the Official Liquidator's report.
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HON'BLE SRI JUSTICE N.R.L. NAGESWARA RAO
COMPANY APPLICATION NO. 523 OF 2013 IN COMPANY PETITION NO. 26 OF 1987
ORDER:
In view of the report filed by the Official Liquidator stating that dividends are sought to be paid to the workers and as per the list 50% of the dividend is proposed, I feel in the interest of justice, the report filed by the Official Liquidator can be accepted.
Accordingly, this Company Application is allowed and the Official Liquidator is permitted to distribute 50% of the dividend viz., Rs. 13,26,307.50 ps to 131 members of workmen as per his report.
N.R.L. NAGESWARA RAO, J
Dated: 18.04.2013 KA
2 issues framed by the court
Whether the report of the Official Liquidator regarding payment of dividends to workmen should be accepted.
Whether the Official Liquidator is permitted to distribute 50% of the dividend to 131 members of workmen.
1 provisions across 1 enactments
Official Liquidator
Workers/Workmen
N.R.L. NAGESWARA RAO
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
