The Official Liquidator High Court Bombay v. Parasurampuria Industries Limited

sat 1/2 olr 341-2015.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 341 OF 2015 IN COMPANY PETITION NO. 454 OF 1998 In the matter of Companies Act, 1 of 1956;

and In the matter of M/s.Parasrampuria Industries Ltd. (In liqn.).

M/s.J.K. Credit & Finance Ltd.

...Petitioner

Ms.Yogini Chauhan, Dy.Official Liquidator.

Mr.Rohit Gupte with D. Chaurasia, Krupa Mehta and Megha Neel I/b. M.K. Ambalal & Co. for Deustche Bank.

CORAM : S.C. GUPTE, J.

4 MAY 2016 P.C. :

This report seeks a direction for payment of outstanding electricity charges to the licensee, namely, Dadra Nagar Haveli Power Distribution. An objection is raised on behalf of a secured creditor for payment of these dues. A similar objection was raised in a companion case, namely, M/s.Parasrampuria1, which has been disposed of by this court today. The observations made in that order apply with equal force to the facts of the present case. Secondly, there are land revenue dues owed by the company to the administration of Union Territory of Dadra & Nagar Haveli. These revenue dues have to be borne by the Official Liquidator, as in the case of the electricity dues, in terms of the public notice issued for sale of the property. The purchaser, M/s.Sarla Performance Fibres Ltd., have deposited full and final payment of Rs.16.30 cores with the Official Liquidator in pursuance of a sale held in furtherance to this public notice. In the 1 OLR No.116 of 2016

sat 2/2 olr 341-2015.doc premises, the observations in the case of electricity dues made in the case of M/s.Parasrampuria apply to the revenue dues as well. Accordingly, the report is allowed in terms of prayer clauses (a), (b) and (c). (S.C. Gupte, J.)