Stressed Assets Stabilization Fund v. The Official Liquidator, High Court, Madras

in C.P.No.115 of 2004 K.KUMARESH BABU.J., This Company Application has been filed seeking for the following reliefs:- a) Why this application should not be treated as urgent? b) Why this Court may be pleased to set aside the rejection of proof dated 26.07.2024 to the extent of Rs.265,22,61,000/- by the respondent towards interest and consequently direct the respondent to consider the rejected claim on merits and pass fresh adjudication order related to the interest claim already made by the applicant? c) Why such further and other orders should not be passed by this Court?

2. The present application had been filed challenging the order of adjudication made by the Official Liquidator in its order dated 26.07.2024. A perusal of the order impugned before this Court would show that the same does not contain any reason as to why the claim is being rejected. However a report had been filed by the Official Liquidator indicating the reasons on which the claim had been rejected.

3. Since the applicant had not been put on notice, the reasons for rejection and also it is the duty of the Official Liquidator to assign the reason on which the orders are being passed so as to enable the aggrieved person to raise the grounds of appeal, if any filed against the same, I am inclined to interfere with the impugned order passed by the Official Liquidator and the same is set aside, however, the claim of the applicant shall be remitted back to the Official Liquidator and the Official Liquidator shall pass a detailed order on the claim petition in accordance with law. 4.With the aforesaid directions, the Application is allowed. 30.08.2024 Index :Yes/No Speaking Order/ Non-Speaking Order Pbn

K.KUMARESH BABU, J.

Pbn in C.P.No.115 of 2004 30.08.2024