Bombay High Court
BHAGWAN ASHOK VEERversusDMK PETROTRADERS AND CARRIERS PT LTD
- Decided
- Disposal
- DISPOSED OFF
- Bench
- ARIF S DOCTOR
Holding
The Court directed the Official Liquidator to disburse the adjudicated amount of Rs. 3,41,979 to the Applicant upon execution of the indemnity bond.
Summary
In an interim application filed by Bhagwan Ashok Veer (the Applicant) against the Official Liquidator of Shree Venkatesh Steels Ltd (in liquidation), the Applicant sought a court order directing the liquidator to disburse Rs. 3,41,979 adjudicated to a deceased ex‑workman, contingent upon execution of an indemnity bond. The liquidator’s counsel indicated that disbursement would be made after the liquidator’s standard due‑process, specifically upon receipt of an affidavit‑cum‑indemnity in the prescribed format. The Applicant agreed to comply with this requirement. The Court, after noting the parties’ positions, allowed the interim application insofar as it directed the liquidator to make the disbursement upon execution of the indemnity bond and disposed of the application. No further reliefs were ordered.
Issues considered
- What procedural requirements must the Official Liquidator satisfy before disbursing the adjudicated amount to the Applicant?
Subjects
- interim application
- official liquidator
- disbursement
- indemnity bond
- liquidation
- adjudicated amount
- company petition
Judgment
Digitally 1/2 501-IA-2567-26.DOC
signed by
MEERA
MEERA MAHESH
MAHESH JADHAV
JADHAV Date:
2026.05.09 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
11:05:09
+0530
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION NO.2567 OF 2026
IN
COMPANY PETITION NO.247 OF 2015
Bhagwan Ashok Veer ...Applicant
In the matter between
DMK Petrotraders & Carrier Pvt Ltd. ...Petitioner
Versus
The Official Liquidator
M/s Shree Venkatesh Steels Ltd. (in Liqn.) ...Respondent
-----
Mr. S. N. Mehta for Applicant.
Mr. Rushabh Sheth for Official Liquidator.
Mr. Chetan Shelke, Deputy Official Liquidator present.
-----
CORAM : ARIF S. DOCTOR, J.
DATE : 8th MAY 2026
P.C.
1 The captioned interim application seeks the following reliefs:
“(a)that this Hon'ble Court be pleased to direct the Respondent to disburse
the adjudicated amount of Rs. 3,41,979/- of deceased ex-workman to the
Applicant on execution of Indemnity Bond in favour of the Respondent;
(b) that for such other and further reliefs as this Hon'ble Court deems fit
and proper in the facts and circumstances of the case;
(c) Cost of this application be provided for;”
2 Mr. Sheth, learned counsel for the Official Liquidator has taken a fair
Meera Jadhav
2/2 501-IA-2567-26.DOC
stand in not opposing the application, however submits that disbursement will
be made after following due process adopted in such matters by the office of the
Official Liquidator. Mr. Sheth clarifies that this would be upon receiving an
affidavit-cum-indemnity in the format prescribed by the Official Liquidator.
Learned Counsel for the Applicant submits that the Applicant shall comply with
this requirement.
3 Hence, interim application is allowed in terms of prayer clause (a) and is
accordingly disposed of.
[ARIF S. DOCTOR, J.]
Meera Jadhav
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