Official Liquidator Of Power Metal And Alloys Ltd(In Liquidation) v. The Board For Industrial And Financial Reconstruction, New Delhi

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 158 OF 2025 IN COMPANY PETITION NO. 817 OF 2005 In the matter of Companies Act, 1 of 1956;

And In the matter of M/s. Powder Metals and Alloys Ltd. (In Liqn.) B. I. F. R. New Delhi

...Petitioner

_______ Mr. Rushabh Sheth, for the Official Liquidator. Mr. Satyajit Roul, Official Liquidator, present. Mr. Chetan Shelke, Dy. Official Liquidator, present. _______ CORAM : ARIF S. DOCTOR, J.

th JANUARY, 2026 DATE : 30 P.C.

1.

The Official Liquidator, by of the present Official Liquidator's Report, sought the following directions:

"a) In view of para (9) and (17) and (19) of this report, whether this Hon'ble Court would be pleased to pass order to pay PF amount of Rs.38,380/- (Thirty Eight Thousand three Hundred and Eighty Only) to Mr. Nilkhant Dalvi's Applicant in Interim Application (L) No35416 of 2023 by way of cheque from the credit of the company (In Liqn.) in respect of employer contribution.

b) In view of para (19) and if prayer (a) is in affirmative, whether this Hon'ble Court would be pleased that advertisement in newspaper as per requirement in terms of Rule 276 of the Companies (Court) Rules, 1959 and opening of Separate Dividend Account be dispensed with;" Vaibhav

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Heard, Mr. Sheth, learned counsel for the Official Liquidator has invited th August 2025. He points out that, given the my attention to the order dated 8 tussle between the Provident Fund Office of Kolhapur and Thane, the Official Liquidator had taken the stand to release the amount of Rs.38,000/-, since there was a balance to the extent of Rs.66,000/- with the Official Liquidator. He submits that this stand was taken only to obviate a workmen having to run around to get the benefit of the Provident Fund. This, I must note, is an extremely fair stand taken by the Official Liquidator.

3.

Having due regard to the submissions, the Official Liquidator's Report is allowed in terms of prayer clauses (a) and (b). 4.

The Official Liquidator's Report is accordingly disposed of. [ARIF S. DOCTOR, J.] Vaibhav