The Official Liquidator, As The Liquidator Of M/S. Zenox Life Sciences Limited (In Liquidation) v. Nil

Comp.A.No.217 of 2020 in M.SUNDAR.J., 'Zenox Life Sciences Limited' (hereinafter 'said Company' for the sake of convenience and clarity), is the company which has gone into liquidation in the aforementioned Company Petition being 'Company Petition No.161 of 2015 '( hereinafter 'main CP' for the sake of brevity). 2.Captioned application i.e., C.A.No.217 of 2020 has been taken out by 'Official Liquidator attached to this Court' ('OL' for the sake of brevity) with a multi-limbed prayer, which as culled out from judge's summons reads as follows:

'a) To take this report on record, b) To permit the Official Liquidator to invite claims from the creditors of the Company in Liquidation by causing publication in "Dina Mani" (Tamilnadu Edition) for the facts mentioned if para 6 & 7 of this report, c) To permit the Official Liquidator to incur such expenditure, as may be necessary for the purpose of inviting claims from the creditors from and out of the funds of the company in liquidation, d)To direct that the cost of this application do come out of the funds of the Company in Liquidation; and 1/4

e) To pass such order/orders as this Hon'ble Court may deem fit and proper in the circumstances of the case.'

3. On behalf of OL, who has taken out captioned application Mr.Bavisetty Sridhar, learned Deputy OL is before this Court in this webhearing on a video-conferencing platform. Learned Deputy OL drawing the attention of this Court to a 'report OL dated 11.08.2020' (hereinafter 'said report' for the sake of convenience and clarity) submits that said Company went into liquidation in and by an order dated 25.04.2006 made by this Company Court, the winding up process unfurled in accordance with law thereafter, some assets of said Company have been sold and fund position of said Company as of now is articulated in Paragraph 4 of said report, Paragraph 5 of said report is also significant and these two paragraphs read as follows:

'4. The funds position of the company as on 08.08.20 is as follows: Cash :

Nil Bank :

Rs. 75,758.04 Investment :

Rs.16,65,000.00 -------------------- Total Rs.17,40,758.04 -------------------- 2/4

'5.That this Hon'ble High Court, by an order dated 13.03.2020 in C.A.No.112 / 2020 permitted the Official Liquidator to invite claims from the creditors of the company in liquidation by causing paper publication in "The New Indian Express" and "Daily Thanthi". '

5. This Court having perused said report, having heard Deputy OL, having been satisfied that the prayer is not only innocuous, but imperative for the purpose of furthering winding up process, captioned application is ordered acceding to prayer limbs (b) to (d). OL shall cause publication to be made and file proof of publication within four weeks form the date of receipt of a copy of this order.

Captioned application ordered on above terms. There shall be no order as to costs.

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