The Official Liquidator, High Court, Madras v. Nil

Comp.A.No.443 of 2019 P.T.ASHA, J.

The above application has been filed by the learned Official Liquidator seeking to (i) take on record the first supplementary list of 150 workmen creditors, EPF and other creditors in Form 71 (ii) permit him to declare and disburse dividend @ 100 paise in a rupee to EPF Organisation amounting to Rs.7,00,044/- (iii) permit the Official Liquidator to make further divided @ 15 paise in a rupee on the admitted amount to four secured creditors amounting to Rs.1,12,65,953/- (iv) permit him to make further divided @ 78 paise in a rupee on the admitted amount to 150 workmen creditors amounting to Rs.1,73,89,236/- (v) permit him to open a separate dividend account with Punjab National Bank, NSC Bose Road, Chennai for a sum of Rs.

and (vii) permit him to meet out the publication charges and other incidental expenses from and out of the funds available to the credit of the company in liquidation.

2. Heard Mr.Bavisetty Sridhee, the learned Deputy Official Liquidator.

3. By order dated 12.12.2013, M/s.South East Footwear Limited was ordered to be wound up and the learned Official Liquidator took charge of the assets of the Company in liquidation. Pursuant to the orders of this Court, the assets were sold. Subsequently, by order dated 19.07.2019 in C.A.No.208 of 2019, the learned Official Liquidator was permitted to call for claims and totally 161 claims have been received. Out of 161 claims of workmen, 150 claims were admitted and the remaining 11 claims were rejected for want of necessary information. The report of the learned Official Liquidator would include the details of the claims, which have been admitted in full or in part to whom the payments were to be made.

4.

Considering the report of the learned Official Liquidator, the application is allowed.

06.12.2019 srn

P.T.ASHA.J srn Comp.A.No.443 of 2019 06.12.2019