Tamil Nadu Industrial Development Corporation Limited v. The Official Liquidator Of Elnet Limited And 2 Others

A.No.2930 of 2024 in EP.No.58 of 2015 K.KUMARESH BABU, J., This application had been filed seeking to condone the delay of 179 days in filing the appeal against the order of the Master dated 06.12.2023.

2. By an order dated 06.12.2023, the Master had allowed an application filed by the 3rd party and had raised an order of attachment. Against which, an appeal is sought to be filed, however with an application to condone the delay of 179 days. When the said application was taken up, a memo was filed by the applicant/decree holder.

3. It was brought to the notice of this Court that an one time settlement had been proposed by the 3rd party, at whose instance, the learned Master had raised the order of attachment. The memo also further indicates that the applicant had considered the one time settlement offer made by the 3rd party and had decided to accept the proposal of the 3rd party on behalf of the applicant in A.No.5744 of 2022, in which the Master had passed an order raising attachment.

4. In pursuance to the one time settlement, a sum of Rs.6crores had been admitted to have been paid by way of Demand Draft No.003948 dated 22.08.2024 and hence requested this Court to record full satisfaction and hence settlement of 1/3

entire claim in EP and further requested this Court to close the EP. The memo dated 28.08.2024 is filed by the applicant is taken on record and full satisfaction of the claim in EP is also recorded.

5. In view of the memo filed by the applicant, no further adjudication is required to be made in the application and the application is accordingly closed. Considering the memo filed by the applicant indicating full satisfaction of the decreetal order made in CS.No.607 of 1997, no further proceedings is required to be made in the pending EP.

6. Accordingly, the application is closed.

02.09.2024 tsh 2/3

K. KUMARESH BABU, J.

tsh A.No.2930 of 2024 in EP.No.58 of 2015 02.09.2024.

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