1. Learned Advocate for the Official Liquidator seeks permission to amend the prayer clause. Permission granted. Amendment to be carried out immediately. The Report is taken up for hearing after the amendment is carried out. The amended prayers read as under :
4) In view of the aforesaid facts and circumstances, the Official Liquidator most respectfully seeks following orders and directions of this Hon'ble Court.
(A) Hon'ble Court may be pleased to authorise and grant its sanction for exercise by the Liquidator of all the powers under section 457 of Companies Act, 1956.
(B) This Hon'ble Court may be pleased to permit the Official Liquidator to appoint Shri R.M.Desai, Advocate to prepare and file an application and to argue and conduct the same on behalf of the Official Liquidator at agreed fee as may be approved by this Hon'ble Court.
(C) Such other and further orders and directions as this Hon'ble Court may consider just and appropriate may also be passed .
2. Heard learned Advocate for the Official Liquidator. On 20.3.2001 when the Company, Piramal Financial Services Ltd. was ordered to be wound up in Company Petition No. 147 of 2000 following direction was made in paragraph No. 16.2 by the Company Court :
16.2 I, therefore, ordered the wind up of the respondent Company in this behalf. I also ordered the Provisional Liquidator to be appointed as a Official Liquidator and carry out all functions pursuant to the provisions of the Companies Act .
3. In light of the aforesaid order, it is not necessary to pass any order in relation to prayer (A) as the Court has already directed the Official Liquidator to exercise all the powers under the provisions of the Companies Act, 1956.
4. In so far as prayer (B) is concerned, the Official Liquidator is permitted to appoint Shri R.M.Desai, Advocate to prepare and file an Appeal and incidental proceedings and to appear and conduct the same on behalf of the Official Liquidator at the fees that may be agreed upon by the learned Advocate and the Official Liquidator. The Report stands disposed of accordingly.
Sd/-
(D.A.
Mehta, J.) M.M.BHATT Top