The Federal Bank Ltd. Asset Recovery Branch, v. The Official Liquidator, Madras High Court As A Liquid Of Shoppers Investment And Finance Company

in CP.No.194 of 1998 M.SUNDAR, J.

Mr.S.Sathyanarayanan, learned counsel on record for applicant is before this Court. Mr.Y.Vijayasimha Reddy, learned Assistant Official Liquidator is before this Court on behalf of respondent i.e., Official Liquidator attached to this Court.

2. Instant application has been filed with a prayer for condonation of 4399 days delay in filing Form 66 (claim).

3. The reason for delay has been articulated in paragraph 6 of the affidavit filed in support of instant application, which reads as follows: '6. I submit that the loan accounts of the Respondent were with the Branch and it was transferred recently to the Asset Recovery Department. It is submitted that the Hon'ble Debts Recovery Tribunal -1, Chennai issued its final order dated 30th October 2001 in OA No.1652 of 1998 against the Respondent Company in an Original Application filed by all the Consortium Bankers. The Branch head was under the impression that no separate claim statement needs to be filed as final order was 1/3

passed by the Hon'ble Debts Recovery Tribunal - 1, Chennai is against the Respondent Company. Hence, the necessary claim statement was not filed in time.'

4. Be that as it may, learned Assistant Official Liquidator very fairly submits that there is no serious opposition to this application, subject to the rider that Form No.66 filed by the applicant will be considered on its own merits.

5. In the light of aforementioned trajectory in hearing today, having heard learned counsel for applicant, learned Assistant Official Liquidator and having been satisfied that the prayer in instant application deserves to be acceded to, having noticed that there is no opposition to instant application and owing to facts and circumstances of case on hand, instant application is ordered as prayed for.

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M.SUNDAR, J.

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