M/S.Vah Magna Retail Pvt. Ltd.(In Liqn) v. -
IN THE HIGH COURT OF JUDICATURE AT HYDERABAD
FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH [Original Jurisdiction] THURSDAY THE EIGHTEENTH DAY OF FEBRAURY TWO THOUSAND AND SIXTEEN PRESENT HONOURABLE SRI JUSTICE S.V. BHATT
IN THE MATTER OF THE COMPANIES ACT, 1956
AND
IN THE MATTER OF M/s. VAH MAGNA RETAIL PVT. LTD. [IN LIQN]
M/s. Vah Magna Retail Pvt.Ltd. [In Liqn] Rep. by the Official Liquidator High Court at Hyderabad For the State of Telangana and the State of Andhra Pradesh. ... Applicant Counsel for Official Liquidator/ Applicant : Sri M.Anil Kumar The Court made the following: [order follows]
HONOURABLE SRI JUSTICE S.V. BHATT O R D E R :
Heard Sri M. Anil Kumar, counsel for Official Liquidator. The present application is at the instance of Official Liquidator praying for the following prayers:
i) Permit the Official Liquidator to invite the claims against the company in liquidation from the creditors of the company [in Liqn] under section 528 of the Companies Act, 1956 read with Rules 139, 147, 148, 159, 160, 163, 173 and 174 of the Companies [Court] Rules, 1959;
ii) Permit the Official Liquidator to advertise the notice inviting claims in Hyderabad and Ranga Reddy district editions of 'Andhra Jyothi" and "Indian Express" news papers or any other news papers as the Hon'ble Court may deem fit and proper.
iii) Permit the Official Liquidator to incur necessary advertisement charges from and out of the funds available to the credit of the company [In liqn]; iv) Permit the Official Liquidator to dispense with issuance of individual notices to the creditors as per Rule 148 [2] of the Companies [Court] Rules, 1959; v) Permit the Official Liquidator to exercise all the powers required for adjudication of claims;
vi) Order the costs of this application do come out of the assets of the company; and
vii) Pass such further or other order or orders as this court may deem fit and proper.
2. Learned counsel for the applicant submits that from the statement of affairs available and also the connected details, it is desirable to publish paper notification instead of taking out independent notices to the secured and unsecured creditors of the company under liquidation.
3. I have perused the affidavit filed in support of the application and I am satisfied the application can be allowed.
4. As a sequel, miscellaneous petitions if any, pending in this company petition shall stand closed.
___________________ JUSTICE S.V. BHATT 18/02/2016 I s L HONOURABLE SRI JUSTICE S.V. BHATT
Date: 18/2/2016 Circulation No.
Court Master: I s L