2004 (5) TMI 621 - HC - Companies Law

Court grants leave to amend, stay implementation of order, and instructs parties on asset transfers

Kirtida Silk Mills Versus Official Liquidator

Kirtida Silk Mills Versus Official Liquidator - TMI Issues:1. Amendment to join M/s Surat Dyes as respondent no.22. Stay on implementation of order/notice dated 24th May, 2004 for Anjani Dying and Printing Mills premises3. Applicant's investments in factory premises and machinery4. Instructions to Official Liquidator based on interim orderAnalysis:1. The judgment granted leave to amend to join M/s Surat Dyes as respondent no.2. The court heard the advocate for the applicant and another representative for respondent no.2. Issue notice was made returnable on 14th June, 2004.2. In terms of interim relief, the court stayed the implementation and operation of the order/notice dated 24th May, 2004 concerning the factory premises of Anjani Dying and Printing Mills in Surat. However, the applicant was directed not to object to the Official Liquidator taking an inventory of the premises, machinery, and items therein. The applicant was required to file an undertaking by 1st June, 2004, promising not to transfer or alienate the premises and machinery. The interim order did not create further equities.3. The applicant's advocate mentioned that the applicant had made additional investments in the factory premises and machinery after purchasing them. The court allowed the applicant to inform the Official Liquidator about these investments.4. The Official Liquidator was present in court, and he was asked to instruct his officer according to the interim order issued by the court. This step was crucial to ensure compliance with the directives of the court and to manage the proceedings effectively.