https://www.taxtmi.com/caselaws?id=325605 The court directed the Official Liquidator to disburse the interest amount claimed by the State Bank of India from the company's available funds in liquidation. The bank's calculated interest at 6% per annum on the adjudicated amount was granted after submissions from both parties. The Official Liquidator verified the bank's claim under Section 530 of the Companies Act, 1956, and after setting aside a required sum, permitted the disbursement subject to specified conditions and undertakings. The State Bank of India agreed to file necessary undertakings for the disbursement, which the court approved along with other specified payments from the company's funds. en-us Wed, 16 Mar 2016 00:00:00 +0530 Fri, 25 Mar 2016 09:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325605 The court directed the Official Liquidator to disburse the interest amount claimed by the State Bank of India from the company's available funds in liquidation. The bank's calculated interest at 6% per annum on the adjudicated amount was granted after submissions from both parties. The Official Liquidator verified the bank's claim under Section 530 of the Companies Act, 1956, and after setting aside a required sum, permitted the disbursement subject to specified conditions and undertakings. The State Bank of India agreed to file necessary undertakings for the disbursement, which the court approved along with other specified payments from the company's funds. Case-Laws Companies Law Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325605