The Saraswat Cooperative Bank Ltd v. The Official Liquidator (For M/S Model Fasteners Pvt Ltd)

1/1 ca-96-19(36).doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY AND ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.96 OF 2019 IN COMPANY PETITION NO.501 OF 2005 The Saraswat Co-operative Bank Ltd.

..Petitioner Vs.

The Official Liquidator for M/s Model Fasteners Pvt Ltd.

..Respondent Mr. Vivek V. Phadke for Applicant Mr. Mahendhar Aithe, Company Prosecutor present CORAM : K.R.SHRIRAM, J.

DATE : 26th JUNE 2019 P.C.:

Heard the counsel and also considered the affidavit in support. The amount forfeited by liquidator certainly cannot be an amount payable to applicant, who may have been a secured creditor. Therefore, prayer clause (a) is not granted and is hereby rejected. As regards prayer clause (b), the liquidator to submit an official liquidator's report within three weeks from today to fix a fresh auction program.

Company application accordingly stands disposed. (K.R. SHRIRAM, J.) Meera Jadhav