Bombay High Court
M/S.MAHINDRA UGINE STEEL CO. LTD.versusSHREE SHAKTI MILLS LTD.
- Decided
- Disposal
- DISPOSED OFF
- Bench
- REGISTRY DISPOSAL OS
Holding
The Court directed the petitioner to produce the assignment documents for the workers' claims and ordered the Official Liquidator to scrutinise them and place a modified report for sanction.
Summary
In a petition under the Companies Act, 1956 concerning M/s Shree Shakti Mills Ltd., the petitioner, represented by Mr. Amit Shethi, claimed that a large number of workers' dues had been paid back and that he possessed assignment documents in his favour for those claims. The Official Liquidator, Mr. S.C. Gupta, was present. The Court directed the petitioner to produce the said assignment documents before the Official Liquidator within two weeks. The Official Liquidator was ordered to scrutinise the documents and, after examination, to place a modified report before the Court for sanction. No further orders were made beyond this procedural direction.
Issues considered
- Whether the assignment documents presented by the petitioner in respect of workers' claims are valid and can be relied upon for the liquidation proceedings
Legislation cited
Subjects
- Companies Act 1956
- Liquidation
- Assignment of claims
- Workers' dues
- Official Liquidator
Judgment
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY PETITION NO. 308 OF 1978
In the matter of Companies Act, I
of 1956.
And
In the matter of M/s. Shree
Shakti Mills Ltd., (in
Liqn.)
Mr. Amit Shethi i/by Wadia Ghandhy & Co.
for Ms. Ajay Poddar.
Mr. S. C. Gupta, Official Liquidator
present.
..
CORAM : S.U. KAMDAR, J.
DATE : 20TH JANUARY,2005.
ORDER ON OFFICIAL LIQUIDATOR’S REPORT DATED
16.9.2004.
P.C.
1. Mr. Sethi appearing for Mr. Ajay Poddar
states that large number of workers are paid back by
them. He further states that he has necessary
documents of assignment in his favour in respect of
2
the said claims of the workers. He is directed to
produce the necessary documents before the Official
Liquidator and the official Liquidator to scrutinise
the same within a period of two weeks from today.
After scrutinising the said documents, the Official
Liquidator will place modified report for sanction
before the Court.
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