Hon'ble Manoj Misra,J.
Learned Single Judge has recorded findings that after the recommendations were made to wind up the company and the appeal was dismissed by AAIFR, the Writ Petition No. 26165 of 1997 was filed. The Division Bench of the Court dismissed the writ petition on 21.9.1999 almost 12 year's ago and closed the matter after which the assets of the company should have been taken over by the Official Liquidator.
The matter of rehabilitation has been re-agitated on the strength of some letters issued by the Ministry of Textiles, and the argument, that the dues of all the banks except IFCI have been paid over from the grants received by the Central Government.
Learned Single Judge in the order dated 21.10.2011 has recorded specific findings, that there is no rehabilitation scheme pending. After directing an enquiry into the competence of the Law Officer to file the application, learned Single Judge directed the Official Liquidator to take charge of the assets of the company.
After winding up of the company, the Official Liquidator steps into the shoes of the management. In the present case the Chairman and Managing Director has to show the authority under which he is trying to resist the handing over the assets purportedly to protect the valuable land and bungalow in which he is living. We would like an official communication from the Ministry of Textiles to show if any policy decision has been taken by the Central Government to rehabilitate the company or to pay the dues of the company to the Banks from the grants of the Central Government.
As requested, put up on 16th December, 2011 in the additional cause list showing the names of Shri Om Prakash Misra appearing for IFCI and Ashok Mehta appearing for Official Liquidator. It is made that that we have not passed any interim orders.
Order Date :- 25.11.2011 RKP