General Insurance Corporation v. The Official Liquidator

Comp.A.Nos.523, 610 and 654 of 2015 in C.P.No.17 of 2004 PUSHPA SATHYANARAYANA, J.

Comp.A.No.523 of 2015 is filed by the General Insurance Corporation of India seeking a direction to the official liquidator to consider the claim of the applicant against the debenture series filed on 13.09.2006 along with the claims filed by the respective debenture trustee filed on behalf of the institutional debenture holders including the applicant and adjudicate the applicants claim against the debenture series within a time frame to be fixed by this Court. 2.

Comp.A.No.610 of 2015 is filed by the United India Insurance Company Limited seeking a direction to the official liquidator to consider the claim of the applicant against the debenture series filed on 17.04.2014 along with the claims filed by the respective debenture trustee filed on behalf of the institutional debenture holders including the applicant and adjudicate the applicants claim against the debenture series within a time frame to be fixed by this Court.

3.

Comp.A.No.654 of 2015 is filed by the Oriental Insurance Company Limited, seeking a direction to the official liquidator to consider the claim of the applicant filed on 11.08.2014 along with the claims filed by the second and third respondents in the capacity as respective debenture trustees on behalf of the institutional debenture holders including the applicant and adjudicate the applicants claim including term loan claim within a time frame to be fixed by this Court. 4.

Heard the learned counsel for the applicant and the learned official liquidator.

5.

As the relief is sought only against the official liquidator and already the respective debenture trustees have made their claim before the official liquidator, no notice is ordered to the respondents 2 and 3.

6.

The official liquidator is directed to consider the claim of the debenture trustees as well as the applicants simultaneously to avoid any overlapping of the claim by the applicants. The applicants

are directed to produce before the official liquidator all documents in respect of their respective claim in original or otherwise and the official liquidator is directed to give personal hearing for the applicants before adjudicating the claim. The official liquidator is directed to adjudicate the claims within a period of eight weeks from the date of submission of the documents.

7.

With the above directions, these Company Applications are ordered.

mra 07.08.2015

PUSHPA SATHYANARAYANA, J.

mra Comp.A.Nos.523, 610 and 654 of 2015 in C.P.No.17 of 2004 (2/3) 07.08.2015