1987 (7) TMI 526

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....P. Singh, Pramod Dayal, U. Gobardhan, Miss A. Subhashini, K. Swamy, Probir Mitra, Dr. Y.S. Chitale, P.R. Seetharaman, M.T. George, D.K. Sinha and K.H. Nambiar, M.K. Banerjee, A.K. Sil, G. Joshi, Dr. Shankar Ghosh, A.K. Ghosh and M.M. Gangadeb for the Appearing parties. ORDER The official liquidator has moved this court for allowing two months further time for effecting sales and thereby rais....

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....fortnight thereafter, the official liquidator may raise the funds so that by September 21, 1987, disbursement of the dues of the workmen in terms of our previous order can be effected. The official liquidator has pointed out that he had required the company to give a list of workmen and the rate at which they were being paid. Grievance is made that there has been no compliance. Dr. Chitale, app....

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....ions as to how he can comply with the order after meeting the statutory liabilities. In the order of April 27, 1987, this court has already indicated the peculiar circumstances of the case. Those considerations were kept in view when the various claims of the financial institutions were brushed aside from immediate consideration and the wages for the limited period were directed to be disbursed....

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....e public dues, if necessary. Two financial institutions, namely, the State Bank of India and the United Bark of India, have applied for clarifications and modifications of the order dated April 27, 1987. We have no difficulty in saying that that order of this court was made under peculiar circumstances obtaining in this case and may not be taken as a precedent. Whether the company's assets are ....