M/S.Midwest India Industries Ltd.(In Liqn..) v. M/S.Midwest India Investors Welfare Association,

The Hon'ble Sri Justice C.V.Nagarjuna Reddy Company Application No.385 of 2015 in Company Application No.612 of 2014 in Company Petition No.39 of 2000 Dated 06.04.2015 Between:

M/s.Midwest India Industries Ltd., (in Liqn.) rep. by the Official Liquidator ...Applicant and M/s.Midwest India Investors Welfare Association, rep. by its President Sri K.Nanjundappa

...Respondent

Counsel for the Applicant: Mr.M.Anil Kumar, Counsel for OL Counsel for the respondent: Mr.Chakravarthy, Counsel for Mr.M.V.Durga Prasad (vakalat not filed) The Court made the following:

Order:

This Company Application is filed to permit the Official Liquidator to operate the second interim payment account, for making payment to the depositors, for a further period of six months.

Mr.Chakravarthi, learned Counsel representing Mr.M.V.Durga Prasad, learned Counsel for the respondent, submitted that as the relief claimed by the Official Liquidator appears to be for the benefit of the members of the respondent- Association, he is not opposing the same.

For the reasons mentioned in the affidavit, filed in support of this Application, and considering the fact that this Court vide Order, dated 22-12-2014, in Company Application No.1323 of 2014, has already extended the time to operate the second interim payment account by four months, I deem it appropriate to extend the time further, only by three months from today. As the learned Counsel for the respondent has undertaken to advice the President of the respondent- Association to expedite the process of receiving the money by approaching the Official Liquidator, the time to operate the second interim payment account is extended by three months with the observation that no application for further extension of time will be entertained.

This Company Application is ordered accordingly. ______________________ (C.V.Nagarjuna Reddy, J) Dt: 6th April, 2015 LUR