Union Bank Of India, Rep.By Its Authorized Representative v. The Official Liquidator

in C.P.No.371 of 2015 C.SARAVANAN, J.

The office of the Deputy Official Liquidator submits that already there are claim for 1,319 crores and that the fund that is available as on date is only Rs.2,44,975/-. It is submitted that no point will be served by either condoning the delay as prayed for or by adjudicating the claim of the applicant belatedly.

2. It is further submitted by the learned Deputy Official Liquidator that no other assets are available as on date in respect of the company under liquidation which could be used for discharging further claim on creditors, who have not filed any claim.

3. Having considered the submission of the learned counsel for the applicant and the learned Deputy Official Liquidator, I am inclined to dispose this application by directing the Official Liquidator to consider the claim petition of the petitioner and pay the available amount of

Rs.2,44,975/- to the petitioner as per law. In case, any other assets of the company under liquidation is/are located in future same may be considered, to settle the balance claim of applicant in accordance with the provisions of the Company (Court) Rules, 1959.

4. With the above observations, this Company Application stands allowed.

22.03.2024 jas

C.SARAVANAN, J.

jas in C.P.No.371 of 2015 22.03.2024