The Official Liquidator, High Court Of Madras v. M/S.Punjab National Bank

Comp.A.No.185 of 2021 in C.P.No.271 of 2015 SENTHILKUMAR RAMAMOORTHY J.

This application is filed for permission to invite claims from the creditors of the company in liquidation by causing publication in one issue of the English daily newspaper "New Indian Express" and one issue of the Tamil daily newspaper "Dinamani".

2. Pursuant to the order dated 26.11.2021, the Official Liquidator has estimated the expenses which are likely to be incurred for effecting the paper publication calling for claims from creditors of the company in liquidation. It is submitted that an aggregate sum of Rs.1,43,325/- is likely to be incurred for effecting publication in the English daily newspaper "New Indian Express" and Tamil daily newspaper "Dinamani".

3. From the report of the Official Liquidator dated 17.08.2021, it is clear that the Official Liquidator has not invited claims from the creditors of the company in liquidation on account of non-availability of sufficient funds for such purpose. Therefore, it is just and necessary that the secured creditor, which has brought the secured asset of the company in liquidation for sale, be 1/3

directed to bear the expenses in relation to the invitation of claims from the creditors of the company in liquidation.

4. Accordingly, Comp.A.No.185 of 2021 is allowed by directing the Official Liquidator to invite claims by causing publication in the English daily newspaper "New Indian Express" and the Tamil daily newspaper "Dinamani" with circulation in the state of Tamil Nadu. The Punjab National Bank is directed to remit a sum of Rs.1,43,325/- in relation to the expenditure for such publication to the Official Liquidator on or before 17.12.2021. The estimate and supporting invoices shall be provided by the Official Liquidator to the Punjab National Bank.

03.12.2021 bsm SENTHILKUMAR RAMAMOORTHY J.

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bsm Comp.A.No.185 of 2021 in C.P.No.271 of 2015 03.12.2021 3/3