Madras High CourtCOMP.A/490/2018allowed

The Official Liquidator v. M/S.Tristar Global Infrastruc

2023-01-06Honourable Mr Justice Krishnan Ramasamy3 pages

in C.P. No. 255 of 2014 KRISHNAN RAMASAMY, J.

This application has been filed for directing the respondent/debtor company to pay the debt due amount of Rs. 16,025.19 towards entire settlement along with subsequent interest @ 18% p.a. till the date of final payment and to permit the learned Official Liquidator, in case of default in making payment of outstanding dues, to seize the asset and machinery as per the schedule to the agreement and to take possession of the same and to permit the learned Official Liquidator to have the cost of this application come out of the funds of the company in provisional liquidation.

2. The learned Official Liquidator, based on the statement of affairs filed by the Ex-Directors, submits that the respondent is liable to pay a sum of Rs. 16,025.19. Therefore, the present application has been filed for recovery of that amount.

3. The learned Official Liquidator submits that he has also issued final notice dated 21.02.2017 directing the respondent to pay the outstanding amount of Rs. 9,314.30 as on 01.03.2011 along with interest @ 18% p.a. for the period from 31.07.2014 to 28.02.2017 and due to non-payment of pro-rata rental for Rs. 4,3335.74 totaling to Rs. 13,650.04 on or before 28.02.2017. He further 1/3

submits that as of today, the outstanding amount of Rs. 9,314.30 along with interest @ 18% p.a. from 31.07.2014 to 31.07.2018 for Rs. 6,710.89 totaling to Rs. 16,025.19 along with subsequent interest @ 18% p.a. till date of final payment, is liable to be paid by the respondent. Inspite of receipt of notice, the respondent has not come forward to settle the amount due.

4. Despite service of notice and printing the name of the respondent, no one has entered appearance on behalf of the respondent. It clearly shows that the respondent is not interest in contesting the matter. Therefore, this Court proceeded to decide the application.

5. Considering the facts and circumstances of the case and the submissions made by the learned Official Liquidator, this Court is of the view that the respondent is liable to pay a sum of Rs. 16,025.19 along with interest @ 18% p.a. from 01.08.2018 till date of final payment as claimed by the learned Official Liquidator.

6. Accordingly, this application is ordered as prayed for. 06.01.2023 vjt 2/3

KRISHNAN RAMASAMY, J.

vjt in C.P. No. 255 of 2014 06.01.2023 3/3