1. This Court had, vide order dated 30th January 2012, passed below mentioned directions in Company Application No.558 of 2011:
"The Official Liquidator shall examine the details regarding the applicant's balance claim amount vis-a-vis the Chartered Accountant's verification report and ascertain total outstanding amount and place it before the Court in separate report within 1 week. He shall also ask the applicant bank to file, within 1 week, the usual undertaking. If on verification it is found that the applicant's claim is in excess of Rs.5 crore then steps to disburse by way of interim/adhoc disbursement the available amount of Rs.1 crore, of course after retaining the amounts as mentioned above, shall be taken with intimation to the Court."
2. It appears that despite the said directions the Official Liquidator has not made payment to the opponent No.1 Bank.
3. Appropriate observations were made in the said order dated 30th January 2012 so as to address the contingency including the demand by Income-tax Department and appropriate provision has also been made by the Court vide said order dated 30th January 2012. However, for unexplained reason the O.L. has not made payment to the opponent No.1 Bank.
4. Mr.
Rao, learned Advocate for the opponent No.1 Bank has made serious grievance about the delay caused by the O.L. on each and every occasion in disbursement of the amount even after order and directions are passed by the Court. He submitted that this is not a solitary instance but it is happening regularly with the office of the O.L.
5. As a last chance, the O.L. is hereby directed not to cause any delay in making payment once the orders are passed by the Court. It is needless to mention that once the orders are passed by the Court it should be immediately complied with and in any case the time limit specify in the orders should never be allowed to expire.
6. In present report the O.L. has admitted that the opponent No.1 Bank submitted/filed the undertaking as back as on 9th February 2012 (after the order was passed on 30th January 2012). However, until now i.e. for almost 13 days any payment has not been made by the O.L. to the opponent No.1 Bank even after the undertaking came to be filed by the Bank.
7. In the aforesaid background the O.L. is directed to make payment to the opponent No.1 Bank in any case, on or before 11:00 of 22nd February 2012. If the payment would not made, then the O.L. shall pay interest at commercial rate to the opponent No.1 Bank from 10th February 2012 onwards. Such payment shall be made by the O.L. from the account of the office of O.L. and not from the account of the company in liquidation.
8. For the aforesaid purpose, the O.L. is permitted to encash the Fixed Deposit, if so required, to the extent of the payment of the amount mentioned in the order.
9. With the aforesaid clarifications, the O.L.R. is disposed of.
(K.M.THAKER, J.) jani Top