2016 (3) TMI 789

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....E FOR THE RESPONDENT : MR DEVANG D TRIVEDI, ADVOCATE, MR JS YADAV, ADVOCATE, OFFICIAL LIQUIDATOR ORAL ORDER 1. This application has been preferred by the applicantState Bank of India, interalia, with a prayer to direct the Official Liquidator of M/s.Jechins Pharmaceuticals Limited (in liquidation) to pay an amount of Rs. 1,39,65,796.12ps. towards interest awarded at the rate of 6% per ann....

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....reditor and having charge over the property that has been put to sale, has calculated the interest at the rate of 6% per annum on the total amount for which the Recovery Certificate has been granted by the DRT, Ahmedabad. After adjusting the credits received by the applicant, the amount comes to Rs. 1,39,65,796.12ps. as on 31.01.2014. 4. Mr.J.S.Yadav, learned advocate for the Official Liquidato....

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....mount of Rs. 1,39,65,796.12ps. has been quantified towards the adjudicated claim of the applicant, under Section530 of the Companies Act, 1956. 5. Referring to paragraph8( 1) of the Report, Mr.J.S.Yadav, learned advocate for the Official Liquidator has submitted that the fund position in the account of the company in liquidation, as on 30.11.2015, is as under : Bank 21,47,883.25 FDR ....

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....on that they accept the recommendation of M/s.P.Dalal & Co., Chartered Accountants, made in its report dated 27.11.2015 and file the usual undertaking that, in the event that the Official Liquidator requires any amount to clear the dues of the Income Tax Department and other Government authorities, the applicantBank shall immediately refund the amount as may be called for by the Official Liquidato....