Application for permission to partial payment of professional fees to an advocate from the estate fund of a liquidated company was disposed of.
Permission granted to pay 50% of the professional fee from the Estate and Establishment Fund Account.
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The Hon’ble Sri Justice C.V.Nagarjuna Reddy
Company Application No.1050 of 2014 in Company Petition No.126 of 2012
Dated 26.08.2014
Between:
M/s.Leafin India Ltd.,(in Liqn.) Rep. by the Official Liquidator High Court of Judicature at Hyderabad
…Applicant
Counsel for the Applicant: Mr.M.Anil Kumar, Counsel for OL
The Court made the following:
Order:
This Company Application is filed to permit the Official Liquidator to pay the professional fee to Sri B.Venkateswara Rao, Advocate, from the Estate and Establishment Fund Account, subject to recoupment of the same as and when the funds are realized.
This Court, by Order, dated 30-06-2014, in
Company Application No.719 of 2014, fixed Rs.1 lakh as professional fee to the Advocate in two LGC Cases and permitted the Official Liquidator to pay 50% of the fees for the present.
In his affidavit, the Deputy Official Liquidator stated that only a sum of Rs.26,000/is available to the credit of the Company in Liquidator and that the same is not sufficient to pay the fees to the Advocate. The Deputy Official Liquidator, therefore, requested for permission of this Court to pay 50% to the Advocate, for the present, out of the Estate and Establishment Fund Account.
In the above circumstances, the Official Liquidator is permitted to pay 50% of the professional fee as per Order, dated 30-06-2013, from out of the Estate and Establishment Fund Account of the Company in liquidation. The Company Application is, accordingly, disposed of.
______________________ (C.V.Nagarjuna Reddy, J)
Dt: 26th August, 2014 LUR
M/s.Leafin India Ltd.,(in Liqn.) Rep. by the Official Liquidator
C.V.Nagarjuna Reddy
As recorded by the court registry
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