M/S Asset Reconstruction Company (India) Ltd., v. The Official Liquidator, High Court, Madras,

Comp.A.No.114 of 2019 in C.P.No.274 of 2004 M.SUNDAR, J.

'Alpha Amins Private Limited' ('Alpha' for brevity) is the company which is under liquidation in the main company petition.

2. Ms.B.Sumana, learned counsel on behalf of applicant and Deputy Official Liquidator Mr.Bavishetty Sridhar representing the 'Official Liquidator attached to this Court' ('OL' for brevity) are before this Court.

3. It is not in dispute that OL has taken charge of Alpha and liquidation proceedings are underway.

4. This Court is informed that the applicant in the instant application namely 'Asset Reconstruction Company India Limited' ('ARCIL' for brevity) is a secured creditor qua Alpha.

5. ARCIL has made a claim against Alpha albeit with delay. Therefore, instant application with a prayer for condonation of delay According to learned counsel for ARCIL, the delay is only one day, but this has been computed as 69 days by construing a different reckoning date.

6. However, In the light of the fair stand taken by the Official Liquidator that there is no serious opposition or objection to the instant application, it is not necessary to delve into those aspects of the matter.

7. Learned Deputy Official Liquidator submits that ARCIL should file all the originals in support of its claim. Learned counsel for ARCIL undertake to do so. It is on this basis that this application is being disposed of.

8. Considering the innocuous nature of the prayer, considering the undisputed position that ARCIL is a secured creditor qua Alpha, having perused the report filed in support of the judges summons and in the light of the narrative supra, the delay is condoned. In other words, this application is ordered as prayed for.

26.04.2019 vsm/mp NOTE: Issue order copy by 30.04.2019.

M.SUNDAR, J.

vsm/mp Comp.A.No.114 of 2019 in C.P.No.274 of 2004 26.04.2019