In Th Matter Of Wopolin Plastics Limited, Nagpur (In Liquidation) v. None

(1) olr16.22

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH : NAGPUR OFFICIAL LIQUIDATOR'S REPORT NO. 1 6 /202 2 IN COMPANY PETITION NO.17/2009 M/s. Wopolin Plastics Ltd. Nagpur .Vs.IDBI Bank, IDBI Tower, Mumbai and Ors. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Office Notes, Office Memoranda of Coram, Court's or Judge's orders appearances, Court's orders of directions and Registrar's orders --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Dr. Anjan De, Advocate for the Official Liquidator. CORAM :

ANIL L. PANSARE, J.

DATE :

22.03.2024 Civil Application (CAO) No.170/2024 Learned counsel for the Official Liquidator seeks permission to withdraw the application.

The application is dismissed as withdrawn.

OFFICIAL LIQUIDATOR'S REPORT NO. 1 6 /202 On 15.03.2024, following order was passed.

".

Heard.

2.

The Official Liquidator is seeking direction to the Bank of Maharashtra to remit a sum of Rs. 17,57,655/- invested in Fixed Deposit along with interest accrued thereon to the Official Liquidator. The learned Counsel for Respondent No.4/Bank of Maharashtra states that vide letter dated 11/6/2022 the Director General of Foreign Trade (DGFT), Mumbai has lodged claim against Bank Guarantee and requested the Bank of Maharashtra to remit amount assured under the Bank Guarantee.

3.

When enquired, learned Counsel for the Bank of Maharashtra was unable to comment as to how would Bank Guarantee prevent the Bank of Maharashtra from liquidating Fixed Deposit and credit the amount in the account of Official Liquidator. He seeks time to take instructions.

(2) olr16.22 4.

Further the Authorized Officer of Bank Of Maharashtra along with its Counsel shall sit with the Official Liquidator on 20th March, 2024 at 3.30 p.m. at the office of Official Liquidator and exchange the documents and to come before the Court with legitimate solution. The Official Liquidator is at liberty to summon the Official of DGFT for the meeting by granting liberty to the Officer concerned to appear on V/C for the meeting. 5.

Stand over to 22nd March, 2024."

I am informed that the authorised officer of the Bank of Maharashtra, with his counsel, met the Official Liquidator. Bank of Maharashtra agrees to deposit, in the account of the Official Liquidator, the amount invested by the Official Liquidator in the Fixed Deposits. Accordingly, following order is passed.

(i) Bank of Maharashtra shall deposit with the Official Liquidator the amount invested in the Fixed Deposit along with interest accrued thereon, within two weeks from today.

(iii) After receiving the amount, the Official Liquidator shall take appropriate steps in terms of the provisions of the Companies Act, 1956.

(ii) Official Liquidator's Report No.16/2022 is disposed of accordingly.

The Official Liquidator shall file compliance within two weeks.

(Anil L. Pansare, J.) Kahale