2004 (1) TMI 395

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....e 9 of the Companies Court Rules, 1959, praying for ordering the respondent M/s. Karnataka Electricity Board to pay a sum of Rs. 12,894 with further interest on the amount of Rs. 10,530 @ 6% from the date of application till judgment and realization etc. 2. In the application it is mentioned that a sum of Rs. 10,530 had been deposited by the company under liquidation with the respondent and this was the amount which was in deposit with the respondent as on 13-7-1995, when the company was ordered to be wound up and O.L. was put in-charge of the winding up proceedings. A sum of Rs. 2,334 is claimed as interest up to after the date of application and further Rs. 30 towards notice charges. 3. It is also stated that the application is with....

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....Counsel for the respondent, on the application. 7. Sri N.K. Gupta, learned Counsel for the respondent submits that the matter has to be posted for enquiry; that the Counsel is not prepared to make his submissions as he is not ready in the matter and requests the matter to be taken up for enquiry and a date fixed for letting in evidence. 8. I am not inclined to accede to this request. The enquiry and recording of evidence is necessary, where there is an issue and dispute between the parties to the lis. 9. On the pleadings available in the present case the factum of Rs. 10,800, which had been deposited by the company under liquidation and was with the respondent - Board is not disputed. It is also mentioned in the objections that thi....

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....ng of a winding up order. Assuming that the respondent had acted at the request of former Directors of the Company under liquidation and in fact had transferred the amount held on account of the Company to any other person as on 29-3-1996 as pleaded in their statement of objections, it is not of any consequence in law and definitely does not absolve their liability towards the company under liquidation. When once the liability of the respondent is not absolved and it continues in law, no other enquiry is required to be conducted in a matter of this nature. 12. Though the amount claimed by the Official Liquidator is the deposit of Rs. 10,530, the respondent had admitted that the actual deposit that the company had made with them and that ....