M/S.Simpson And General Finance Co Ltd v. Official Liquidator

Comp.A.No. 131 of 2024 in C.P.No. 167 of 2001 K.KUMARESH BABU, J.

In the instant application, a report had been filed by the Official Liquidator on 03.06.2024 indicating, if the applicant is willing to settle the claim for a sum of Rs.16,93,833/- as adjudicated in the claim, the same could be paid immediately. By a further report dated 04.07.2024, the same had been reiterated in paragraph 11 which is extracted hereunder:- "11. In view of the above, it is the humble submission of the Official Liquidator, that considering the repayment aspect viz., for Rs.11,06,392/- and balance as on 27.05.1998 is Rs.13,93,608/- can be admitted with interest @ 4% interest from 27.05.1998 till date of winding up order, which works out to Rs.16,93,833/-."

2. Today, when the matter was taken up, the learned counsel for the applicant had filed an affidavit of Mr.T.V.Jayagopal, Director (Operations) of the applicant Company wherein, it has been indicated that to give a quietus to the issue involved in the application, the applicant is willing to accept a sum of Rs.16,93,833/- as stated in the report filed by the Official Liquidator as full and final settlement of the due payable by the Company in liquidation. https://www.mhc.tn.gov.in/judis

K.KUMARESH BABU, J.

KKN

3. In view of the report of the Official Liquidator and the affidavit of the applicant Company dated 16.08.2024, I am inclined to disburse of this application with a direction to the Official Liquidator to dispose of the said sum of Rs.16,93,833/- on or before 13.09.2024.

4. Post this matter 'for reporting compliance' on 13.09.2024. 16.08.2024 kkn Comp.A.No. 131 of 2024 in C.P.No. 167 of 2001 https://www.mhc.tn.gov.in/judis