Today, at the outset, Mr. Karia, learned advocate, who was requested to act as learned amicus-curiae, has at length clarified various entries emerging from the record of the Official Liquidator and also clarified that there does not appear to be any mistake or error or misappropriation of amount in the accounts. The only difficulty, according to learned amicus-curiae, is the method and system of maintaining the accounts otherwise, all entries/payments are duly explained.
2. The Court appreciates the valuable assistance rendered by the learned amicus-curie in the matter, particularly in light of the allegations made by the learned advocate for the respondent No.5. The said aspect now stands cleared and therefore, there is no need for further deliberations on the said issue.
3. Now, the question, which remains, is about the claim made by the applicant-union, who claims to be representing the workmen of four associated units.
4. During today's submissions, it has been submitted that the workmen have certain reservations with regard to the payments, which have been disbursed in favour of the secured creditors inasmuch as the secured creditors, according to the workmen, have been paid in full and thereafter, the liability towards income-tax has been discharged by the OL from the funds available with the OL, which would adversely affect and has actually adversely affected the interest of the workmen inasmuch as any amount towards income-tax has not been proportionately deducted from the claims paid to the secured creditors.
4.1 If the workers have any grievance on this count and/or any request and/or any claim for appropriate directions to the secured creditors for refund of the amount which is to be paid, then, such request is to be made by way of separate application and in present application filed by the applicant-union, the said issue does not arise and cannot be considered.
For the purpose of further consideration of the claim made by the applicant-union in present application, the matter is adjourned to 18.1.2012.
(K.M.Thaker, J.) kdc Top