The Official Liquidator,High Court, As The Liquidateor Of M/S.Muthukumarasamy Textiles Ltd v. M/S.Asset Reconstruction Company (India) Ltd

Comp.A.No.211 of 2021 in C.P.No.53 of 2010 KRISHNAN RAMASAMY, J, This application has been filed by the Official Liquidator seeking for the following prayers:

"a) To take this report on record;

b) To permit the Official Liquidator to call for the claims from all the creditors of the company in liquidation by giving 30 days time from the date of publication of Notice in News Papers to prove their Debt/claim before the Official Liquidator.

c) To permit the Official Liquidator to publish the advertisement for calling for claims in one issue of English daily "The New Indian Express" and in one issue of Tamil News paper "Dina Mani" in Tamilnadu Edition.

d) To permit the Official Liquidator to dispense with requirement of Rule 148(2) of the Companies (Court) Rules, 1959, from the issue of individual notices to the creditors.

e) To direct the secured creditor viz. Asset Reconstruction Company (India) Limited, Mumbai, to provide the details of loan as on date of winding up and amount so far settled of the assets of the company, and from the guarantor's property if any till now, as referred in para 10, to enable this 1/4

office to arrive at the percentage of proportionate share payable to the workmen creditors in terms of Section 529A of the Companies Act, 1956.

f) To direct the secured creditor viz., Asset Reconstruction Company (India) Limited, Mumbai, to bear the cost of Advertisement charges and other expenses incurred in this regard."

2.Heard the learned Official Liquidator.

3.Learned counsel appearing for the respondent submitted that he has no objection in allowing the present application. 4.Considering the submissions made by the learned Official Liquidator and the learned counsel appearing for the respondent, this application is ordered as prayed for.

19.01.2023 rst 2/4

KRISHNAN RAMASAMY, J rst 3/4

Comp.A.No.211 of 2021 in C.P.No.53 of 2010 19.01.2023 4/4