The Official Liquidator High Court Bombay v. Poysha Inds.Co.Ltd.

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89. OLR 290-16.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO.290 OF 2016 IN COMPANY PETITION NO.201 OF 1994 In the matter of Companies Act, I of 1956;

And In the matter of M/s Poysha Industrial Company Ltd. (In liquidation) M/s K.R. Steel Union Limited ...

Petitioner .....

Mr. Vinod Sharma, Official Liquidator.

Ms. Yogini Chauhan, Deputy Official Liquidator. Sangeeta Yadav i/b Suresh Kumar for Provident Fund Commissioner. Mohan Dicholkar, Chief Manager of Bank of India, Churchgate Branch. .....

CORAM : S.C.GUPTE, J.

DATE : 19 AUGUST 2016.

P.C. :

.

The Official Liquidator's report seeks directions for declaration and payment of dividend @ 100 paise in a rupee to the Regional Provident Fund Commissioner, who claims dues on account of workmen of the Company in liquidation which have already been adjudicated and admitted as per the supplementary lists filed with the Prothonotary & Senior Master of this Court. The total outstandings to be paid to the Regional Provident Fund Commissioner aggregate to Rs.3,60,72,583/- The entire amount can be disbursed from out of the funds available with the Official Liquidator.

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89. OLR 290-16.doc The provident fund dues as held by the Supreme Court have to be accorded top priority and accordingly, the OLR is allowed in terms of prayer clauses- (a), (b) and (c).

(S.C.GUPTE, J.)