TaxTMI 
TaxTMI 
2010 (9) TMI 233
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....ort of the judges summons is filed by the chief manager of the applicant-bank. The court has issued notice on 20-8-2009. The court has passed further order directing the official liquidator to file copy of compliance report which he had earlier filed pursuant to the order of winding up passed by this court. In response to the said order the official liquidator has filed his report on 28-7-2010 wherein it was stated that he has made all efforts to find out the compliance report. However, the possession file and other relevant files, i.e., compliance report are not traced out. He has also inquired with O.J. Department of this court on 20-7-2010 and it was communicated by the Registry that the compliance report has not been filed in the matter....
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....d though the compliance report was prepared it was not filed before the court. No explanation has come forward as to why this has happened and for about nine years no progress was made in the matter. It is only when the present application is moved by the bank asking possession of property in question the entire machinery was put to work and it was found that the compliance report was not at all filed by the office of the official liquidator. 5. The report filed by the official liquidator further reveals that over and above a registered office of the company at 3rd Floor, Nalanda Complex, Premchand Nagar Road, Ahmedabad. There are certain other properties of the company in liquidation which are as under : (1)Hydrown Enviro Systems Ltd., 6....
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....of Rs. 1,064.00 lakhs to M/s. Hydron Enviro Systems Ltd., which is now in liquidation and the said facilities are secured inter alia by first charge of immovable properties situated and lying and being the office premises of the said company in liquidation. He has further submitted that the company in liquidation on 5-6-1997 had deposited the title deeds and documents of title of its immovable properties described therein and created an equitable mortgage with an intent to secure due repayment of the entire outstanding of the said facilities. He has further submitted that the applicant-bank has exclusive charge over the mortgaged properties, which are duly registered with the Registrar of Companies in favour of the applicant. Thus, the appl....
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.... Since the property in question was under the possession of the official liquidator an application was moved by exhibit H/28 to take over possession of the property and accordingly the Recovery Officer, DRT, Ahmedabad directed the official liquidator to file his reply. Since the official liquidator has not responded to the notice issued by the Recovery Officer the applicant-bank requested to hand over possession of the property and accordingly the Recovery Officer, DRT, Ahmedabad by order dated 21-9-2007 appointed the branch manager, ex-officio of the applicant-bank as Recovery Officer to take over the possession of the property and directed the official liquidator to hand over possession of the property. Pursuant to the said order the appl....
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.... v. Official Liquidator [2005] 128 Comp. Cas. 3871 a Debts Recovery Tribunal acting under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 would be entitled to order the sale and to sell the properties of the debtor, even if a company is in liquidation, through its Recovery Officer but only after notice to the official liquidator or the liquidator appointed by the company court and after hearing him. In the present case this procedure has been followed by the Recovery Officer. Notice was issued to the official liquidator and an opportunity of being heard was also given. It is a different thing that the official liquidator could not remain present and, therefore, he has submitted that in view of this decision the appli....
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....resent case neither the applicant-bank nor the official liquidator has acted promptly and accurately in the matter. Since 1999 onwards the applicant-bank has put its seal over the premises. The official liquidator has also taken possession pursuant to the winding up order passed by this court in the year 2000. For ten years the official liquidator has not moved this court nor even compliance report is filed in respect of which certain actions could have been taken in time. However, due to mere negligence and carelessness on the part of the persons working in the office of the official liquidator or for extraneous reasons best known to them, no steps were taken. Moreover, compliance report though prepared was not filed in the court. Be that ....