Heard Mr. Yadav, learned advocate for the applicant-OL, Mr. Jani, learned advocate for the respondent - bank and Mr. Mankad, learned advocate representing the workmen.
2. The applicant-OL has taken out present report seeking below mentioned direction:-
"7A This Hon'ble Court may be pleased to permit the Official Liquidator to make outstanding security payment of Rs.11,55,075/- to security agency as stated in para-5 herein above out of the funds available in the company's account."
2.1 On previous occasion, i.e. at the time of hearing, Mr. Jani, learned advocate for the respondent - bank had raised objections with regard to the rates at which the OL calculated the payable amount to the security agency. After taking into account the objections raised by Mr. Jani, learned advocate for the respondent - bank, order dated 8.12.2011 was passed requiring the OL to explain the details with regard to the rates at which the amounts payable to the security agency have been quantified in the report.
3. It is submitted that in response to the said order, the OL has filed report dated 22.12.2011, copies whereof were supplied to learned advocates for the bank and the workmen.
3.1 Today, after examining report dated 22.12.2011, learned advocates for the respondent - bank and the workmen have submitted that, for the present, the bank and the workmen are satisfied so far as request for payment to security agency is concerned and the details with regard to changes or the upward revision in the rates duly explained by the OL by mentioning the details in the report dated 22.12.2011 and the annexures to the said report and the said respondents are therefore, satisfied with regard to the revision effected in the rates for payment to the security agency.
4. Mr.
Jani and Mr. Mankad, learned advocates, in this background, have submitted that, for the present, they have no objection if the request made in para 7A of the report is granted.
5. In the aforesaid view of the matter, the OL is permitted to make payment of Rs.11,55,075/- to the security agency as per the request in para-7A of the report dated 17.10.2010, in light of the details mentioned in the said report read with report dated 22.12.2011.
With the aforesaid observations, clarifications and direction, OLR No.242 of 2011 stands disposed of. Notice is discharged.
(K.M.Thaker, J.) kdc Top