The Official Liquidator, High Court, Madras v. Punjab National Bank

Comp.A.No.22 of 2021 in C.P.No.123 of 2016 KRISHNAN RAMASAMY, J, This application is filed by the Official Liquidator seeking for the following prayers:

(a) to permit the Official Liquidator to call for claims from all the creditors of the company in Liquidation by giving 30 days time from the date of publication of notice in new papers to prove their debt/claims before the Official Liquidator.

(b) to permit the Official Liquidator to publish the advertisement for inviting claims in one issue of English "The New Indian Express" in English - Tamilnadu Edition and one Tamil news paper "Dina Malar" in Tamil - Tamilnadu Edittion.

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

(d) to direct the secured creditors (Punjab National Bank) to bear the cost of advertisement and other expenditure incurred by the Official Liquidator.

2.The Official Liquidator would submit that the Company in https://www.mhc.tn.gov.in/judis liquidation does not have any assets and the assets were taken over by 1/2

KRISHNAN RAMASAMY, J rst the respondent/Punjab National Bank. Therefore, he could not bear the cost of advertisement and seeks to direct the respondent to bear the cost incurred by the Official Liquidator towards advertisement and other expenditure.

3.Considering the submissions and the averments made in the affidavit, this Court is inclined to allow the present application. 4.Accordingly, the present application is allowed as prayed for and the respondent/ Punjab National Bank is also directed to bear the cost of advertisement and other expenditure incurred by the Official Liquidator. 22.12.2022 rst Comp.A.No.22 of 2021 in C.P.No.123 of 2016 https://www.mhc.tn.gov.in/judis 2/2