1. Heard Mr.Desai, learned advocate for the applicant and Ms.Amee Yajnik, learned advocate for respondent.
2. The applicant-Bank has prayed below mentioned reliefs and directions in the Judges Summons dated 05.07.2012, which reproduced thus:-
(A) The Hon ble Court may be pleased to direct the respondent Official Liquidator to reimburse the applicant bank of the amount of Rs.3,18,062/- being the amount of expenses paid by the applicant to the respondent for preservation of the property of the Company in liquidation.
(B) The Hon ble Court may be pleased to direct the respondent Official Liquidator to disburse the amount of sale proceeds of the assets solely charged to the applicant bank of the amount of Rs.36.80 lakhs or the total amount and/or any additional amount realized from the sale of the assets of the Company in liquidation realized by the respondent, in the facts and circumstances of the case and in the interest of justice.
It appears from the record that in pursuance of previous orders passed by the Court time and again, Official Liquidator had taken steps to sell the available property and assets of the Company in liquidation, and thereafter, Official Liquidator has taken steps to invite the claims from the secured creditors / workers and other creditors/claimants including statutory creditors.
According to the OL Report dated 09.04.2012, Official Liquidator has received only two claims. Official Liquidator has also declared that he has not received any claim from any workman of the Company in liquidation and / or from any secured creditor other than the applicant-Bank. The details mentioned by the Official Liquidator with regard to the claims received are found in Para-2 to 4 of the report, which read thus:-
2. That Official Liquidator further most respectfully submits that pursuant to vide order dated 18.12.2012 passed by this Hon ble Court this office has issued advertisement two daily newspapers Gujarat Samachar and Indian Express in Rajkot edition on 20.01.2013. In response to the said advertisement this office has received following claims:-
Sr.No.
Name of Claimant Amount (in Rs.) Remarks 1 Vijay Commercial Coopearative Bank Ltd. (received on 08.02.2013) 40,43,596/-
Order of Board of Nominees Court, Rajkot.
Pashim Gujarat Vij Company Ltd. (PGVCL) (received on 08.03.2013) 70.658/-
Outstanding dues of Electricity however the claim is not filed in prescribe form No.66 or 67 of the Company (Court) Rules, 1959.
It is further submitted that this office has not received a single claim from the ex workers of the Company in Liquidation.
That, it is further submitted that applicant i.e. Dena Bank s claim was also required to be verified from the Chartered Accountants. In view of the above, this Hon ble Court may be pleased to grant prayer 14(c) of Official Liquidator Report dated 28.08.2012 (at page no.14) filed in present application to engage the services of the Chartered Accountant.
That, Official Liquidator further most respectfully submits that this office has convened a meeting of Sale Committee on 21.03.2012 for vetting and approval of the Security bill of M/s. Blockade Defense Services, the Security bills were outstanding w.e.f. September, 2009, to February, 2012 @ Rs.7,445/- per month (including service-tax), total comes out of Rs.2,21,057/-. This Bills of Security Agency were placed before the Sale Committee for vetting and approval. The Chief Manager/ representative of Dena Bank have given their consent, and they have agreed for making payment to Security agency, as per rate prescribed in Scheme of the empanelment of Security Agency as approved by the Hon ble High Court of Gujarat. Accordingly, the Sale Committee decided to place the same before the Hon ble Court for making payment to the Security Agency outstanding w.e.f. September, 2009 to Feburuary,2012 of Rs.2,21,057/-. That, in view of above this Hon ble Court may be pleased to permit the Official Liquidator the payment of outstanding dues of M/s.Blockade Defense Services w.e.f. September, 2009 to February, 2012 @ Rs.7,445/- per month (including service-tax), total comes to Rs.2,21057/-.
According to the Official Liquidator, available amount with Official Liquidator is Rs.35,08,258/-, as against the said amount, the applicant-Bank has claimed payment of sum of Rs.36.80 Lakhs and sum of Rs.3,18,062/- for the expenses incurred by it.
In addition to applicant s claim, the Official Liquidator has received claim of Electricity Company. The said claim is to the tune of Rs.17,658/-. In this background, Official Liquidator has prayed, inter alia, that:-
7(a) This Hon ble Court may be pleased to grant prayer 14(c) of Official Liquidator report dated 28.08.2012 (at page no.14) filed in present application to engage the service of the Chartered Accountants, in view of reasons stated in Para-2 herein above.
(b) This Hon ble Court may be pleased to permit the Official Liquidator make the payment of Rs.2,21,057/- towards security charges of M/s. Blockade Defense Services w.e.f. September 2009 to February, 2012 per month Rs.7,445/- (including service tax), in view of reasons stated in para-4 herein above.
This Hon ble Court may be pleased to permit the Official Liquidator to make the payment of Rs.24,603/- towards advertisement charges of M/s. Navnitlal & Co., Advertising agency charges of M/s. Navnitlal & Co., Advertising agency as per their bill No.AD/00315/12-13 dated 23.01.2013, in view of reasons stated in Para-2 and 5 herein above.
(d) Such other and further orders and directions as may be considered just, and appropriate may also pleased.
Learned advocate for the Official Liquidator submitted that Official Liquidator may be permitted to forward the claims for verification of the Chartered Accountant. He further submitted that Official Liquidator may submit his report within three weeks. Official Liquidator may be permitted to take necessary steps.
Having regard to the submissions of learned advocate for the Official Liquidator, present application stands disposed of with below mentioned clarifications and directions.
Official Liquidator shall, within one weeks, forward the claim for the purpose of verification by Chartered Accountant. The Chartered Accountant shall submit his report to the Official Liquidator within three weeks from the date of receiving claim. After receipt of the report of the Chartered Accountant, the same may be placed before the Court with appropriate request to make disbursement as per the report of the Chartered Accountant.
Official Liquidator is also directed to first verify whether the claim of Security Agency and the Advertising Agency are already paid and after ensuring there is no duplication. Official Liquidator shall also ascertain before making payment, that Advertising Agency s bill is raised as per D.A.V.P. rates and rate higher than D.A.V.P. Rate higher than D.A.V.P. Shall not be paid. Therefore, Official Liquidator may make the payment to the security agency and the advertising agency.
If the Secured Creditors has any objection in connection with Chartered Account report, such objection may be filed within one week from the date of submission of Chartered Account by the Official Liquidator. Thereafter, request for disbursement made by the present applicant in Para-A and B of the application will be decided.
With the aforesaid clarification, the present application stands disposed of, accordingly.
(K.M.THAKER, J.) Girish Page 5 of 5