Official Liquidator Of M/S. Mts. Askon Constructions v. Sri A.Ravichandra Rao,

HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY APPLICATION No.205 of 2015 Date:24.02.2015 Between:

Official Liquidator of M/s Askon Constructions Private Ltd (in liqn) ..... Applicant And:

A.Ravichandra Rao, S/o Peddaiah .....Respondent Counsel for the applicant: Sri M.Anil Kumar Counsel for the Respondent: None appeared The Court made the following:

ORDER:

This Company Application is filed for permitting the Official Liquidator to incur the incidental expenditure out of the Estate and Establishment fund, subject to its recoupment on realisation from the company in liquidation.

The Official Liquidator in his affidavit has pleaded that despite the direction given by this Court by order, dated 27.10.2014, the non-applicant has failed to deposit the tentative costs of Rs.25,000/-; and that as any delay in initiating the process for taking over the assets of the company in liquidation will cause prejudice to the interests of the stake holders, he may be permitted to incur the incidental expenditure out of the Estate and Establishment fund, subject to its recoupment on realisation from the company in liquidation.

In view of the above-noted circumstances explained by the Official Liquidator in the affidavit, the Company Application is ordered as prayed for. ____________________________ JUSTICE C.V.NAGARJUNA REDDY 24th February, 2015 DR