Idbi Bank Ltd. (Erstwhile Industrial Development Bank Of India-Idbi) v. Official Liquidator Of Trident Steel Ltd. And 5 Others
CA301&302_16.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.301 OF 2016 IN COMPANY APPLICATION NO.282 OF 2015 IN COMPANY PETITION NO.360 OF 1998 WITH COMPANY APPLICATION NO.302 OF 2016 IN COMPANY APPLICATION NO.282 OF 2015 IN COMPANY PETITION NO.360 OF 1998 WITH O.L.R.NO.235 OF 2016 Office Notes, Office Memoranda of Coram, appearances,Court's orders, or directions, and Registrar's Orders Court's or Judge's orders Ms Molina Thakur for Applicant in C.A.No.282 of 2015. Ms Jaya Alle i/b. AKS Legal Consultants for Applicant in C.A.No.302 of 2016 and for Applicant in C.A.No.301 of 2016. Mr. Mahendhar Aithe, Company Prosecutor for Official Liquidator.
CORAM : R. G. KETKAR, J.
DATE : 18TH SEPTEMBER, 2017 P.C.:
Heard learned Counsel appearing for the parties. 2.
Ms Alle states that Mr. Ashish Aggarwal, Deputy General Manager of IDBI Bank and Mr. Sunil Tembe, Assistant General Manager of SAS Fund are present in the Court. Upon taking instructions from them, she states that 1/2
CA301&302_16.doc within two weeks from today, IDBI Bank and SAS Fund will deposit amount of Rs.18,86,405/- with the Official Liquidator.
3.
Official Liquidator will remit that amount to M/s. C. D. Safety & Security Services Pvt. Ltd. within one week therefrom. The Official Liquidator shall deduct the expenses incurred towards security provided by the applicants M/s. C.D. Safety & Security Services Pvt. Ltd. to the secured creditors. The payment made by IDBI Bank and SAS Fund shall be treated as expenses incurred by the Official Liquidator and shall be paid over to them before disbursing the sale proceeds received after the sale of properties in question.
4.
Official Liquidator is at liberty to issue demand notice towards security charges to all the secured creditors for further period. In view thereof, Company Applications No.301 of 2016 and 302 of 2016 are disposed of. Order accordingly.
(R. G. KETKAR, J.) Minal Parab 2/2