Madras High CourtCOMP.A/306/2025allowed

The Official Liquidator v. Nill

2025-12-12Honourable Mr Justice N. Anand Venkatesh5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 12-12-2025

CORAM

THE HONOURABLE MR JUSTICE N. ANAND VENKATESH IN CP No. 274 of 2009 The Official Liquidator High Court, Madras as the Liquidator of M/s.Mount Mettur Pharamaceuticals Limited (in liquidation) Applicant(s) Vs Nil Respondent(s) PRAYER a) To take this report on record b) To take on record the settled list in Form No.71 containing 31 workmen creditors and 4 employees totalling to 35 claimants which were admitted for Rs.3,57,70,786/- under Rule 167 of Companies Court Rules 1959 before the Honourable High Court, Madras along with this report as Annexure-D c) To permit the Official Liquidator to declare and pay dividend @ 100 paise in a rupee to 31 workmen creditors for Rs.3,34,41,530/- and for 4 employees for Rs.23,29,256/- totalling to Rs.3,57,70,786/- on the admitted amount of Rs.3,57,70,786/- as per Form 71.

d) To permit the Official Liquidator to apportion the claimed amount of Rs.23,00,000/- to one workmen creditor viz., Shri.Kamalakannan and an amount of Rs.4,26,300/- to Shri.Dipankar Jana, Employee totaling a sum of Rs.27,26,300/- e) To permit Official Liquidator to open a dividend account with Punjab National Bank, NSC Bose road, Chennai for Rs.3,57,70,786/- for making payment of 31 Workmen creditors and 4 employees. f) To permit the Official Liquidator to keep open the dividend account for six months from the date of opening and activation of the account and to transfer

the unpaid dividend to Registrar of Companies, Tamilnadu, Coimbatore as required under section 555(1) and (3) of the Companies Act, 1956. g) To permit the Official Liquidator of dispense with the succession certificate in case the claimant is deceased and to make the disbursement based on the Death Certificate, Legal Heir Certificate and no objection certificate from the family members of the claimants.

h) To permit the Official Liquidator to dispense with causing publication in News Papers regarding declaration/ disbursement of dividend as stipulated in Rule 276 of Company Court Rules, 1959, since the disbursement is to be made to 35 nos. of workmen creditors and employees only. i) To permit the Official Liquidator to incur the expenses in connection with declaration/ disbursement of dividend including the cost of this application from the funds of the company in liquidation.

For Applicant:

Mr.Pola Raghunath Official Liquidator

ORDER

This application has been filed by the Official Liquidator with the following prayer:- a) To take the report on record b) To take on record the settled list in form No.71 containing 31 workman creditors and 4 employees totalling to 35 claimants which were admitted for Rs.3,57,70,786/- under Rule 167 of Companies Court Rules 1959 before the Honourable High Court, Madras along with this report as Annexure-D c) To permit the Official Liquidator to declare and pay dividend @ 100 paise in a rupee to 31 workmen creditors for Rs.3,34,41,530/- and for 4 employees for Rs.23,29,256/- totalling to Rs.3,57,70,786/- on the admitted amount of Rs.3,57,70,786/- as per form 71. d) To permit the Official Liquidator to apportion the claimed amount of Rs.23,00,000/- to one workmen creditor viz., Shri.Kamalakannan and an amount of Rs.4,26,300/- to Shri.Dipankar Jana, Employee

totaling a sum of Rs.27,26,300/- e) To permit Official Liquidator to open a dividend account with Punjab National Bank, NSC Bose road, Chennai for Rs.3,57,70,786/- for making payment of 31 Workmen creditors and 4 employees.

f) To permit the Official Liquidator to keep open the dividend account for six months from the date of opening and activation of the account and to transfer the unpaid dividend to Registrar of Companies, Tamilnadu, Coimbatore as required under section 555(1) and (3) of the Companies Act, 1956.

g) To permit the Official Liquidator of dispense with the succession certificate in case the claimant is deceased and to make the disbursement based on the Death Certificate, Legal Heir Certificate and no objection certificate from the family members of the claimants.

h) To permit the Official Liquidator of dispense with causing publication in New Papers regarding declaration/ disbursement of dividend as stipulated in Rule 276 of Company Court Rules, 1959, since the disbursement is to be made to 35 nos. of workmen creditors and employees only.

i) To permit the Official Liquidator to incur the expenses in connection with declaration/ disbursement of dividend including the cost of this application from the funds of the company in liquidation.

2. Heard the Official Liquidator and perused the report filed by the Official Liquidator.

3. This Court is convinced with the report filed by the Official Liquidator

and hence the report filed by the Official Liquidator is taken on record and this company application is allowed granting the reliefs as prayed for. 12-12-2025 ss

N.ANAND VENKATESH J.

ss IN CP No. 274 of 2009 12-12-2025