TaxTMI 
TaxTMI 
2017 (9) TMI 436
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.... 2. The applicant Union has filed this application and has prayed for a direction directing the Official Liquidator to pay an amount of Rs. 3,09,92,881/or which is found due and payable by the Chartered Accountant to the workers of New Rajpur Mills Ltd. (company in liquidation) along with interest which is payable under the provisions of the Companies Act. The applicant in support of this judges summons, has contended that all workmen have been paid dues under section 529 and 529A of the Companies Act, 1956. It is the case of the applicant that sufficient surplus is there with the Official Liquidator and therefore, claim as regards interest also been lodged. It is a matter of record that applicant Union thereafter approached this Court b....
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.... Name of claimant Amount (In Rs.) Claim status 1 WORKERS UNION THROUGH MR. GANPATBHAI M. PARMAR, MEMBER 18,02,46,199 Unsecured creditors 2 IFCI LTD. 1,95,35,246 Unsecured creditors 3 IDBI BANK LTD. 2,49,59,012 Unsecured creditors 4 M/S. APAJI AMIN & CO. 3,72,544 Unsecured creditors 5 M/S. JAYANTILAL CHIMANLAL 8,30,778 Unsecured creditors 6 M/S. MASTER TRADERS 14,320 Unsecured creditors 7 M/S. LOOM DROP PINS MFG.CO. 4,695 Unsecured creditors 8 M/S. APCO AGENCY 39,760 Unsecured creditors 9 M/S. ANIL COTTON 8,63,454 Unsecured creditors 10 M/S. DILI....
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....ach creditor including workmen claim has been worked out as under C TABLE A Sr. No . Particular Secured claim paid (In Rs.) Unsecur ed eligible claim (In Rs.) Unsecur ed eligible claim PAID (In Rs.) Unsecur ed Eligible Claim TO BE PAID (In Rs.) Eligible interest @ 4% P.A. For 159 months (In Rs.) Unsecur ed Eligible claim Total O/S (In Rs.) Ratio (%) (1) (2) (3) (4) (5) (6) (7) 1 IDBI 48,88,383 0 0 0 25,90,84 3 25,90,84 3 6.64 2 IFCI 14,08,185 0 0 0 7,46,338 7,46,338 1.91 3 ISARC 37,83,836 0 0 0 20,05,43 3 20,05,43 3 5.14 ....
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....hartered Accountant also indicates that the claims have been verified and the Chartered Accountant has also taken into consideration and has calculated claim of other unsecured creditors as per the statement of affairs @ 4% from the date of winding up to the date of last disbursement. The Official Liquidator has also declared before this Court that as on 31.07.2017, an amount of Rs. 9.70 crores approximately is there in the funds of the company in liquidation with the Official Liquidator. 6. In view of the aforesaid therefore, the Official Liquidator has prayed as under " a) This Hon'ble Court may be pleased if though fit after hearing the all creditors/parties to this application to pass necessary order of disbursement to U....
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....nions and workers/employees. f) Any order/orders as may be deem, fit and proper in the matter by this Hon'ble Court may be passed." 7. At this juncture, it deserves to be noted that Mr. Uday Bhatt, learned counsel appearing for respondent no.2 which was formerly represented by Mr. Bhagat has relied upon the affidavit dated 19.08.2017 and has submitted that SBI, respondent no.2 has lodged claim under section 530 in form no.66 for interest upon receipt of the final principal amount of Rs. 13,61,263/and that they have filed a revised claim of Rs. 2,63,08,288/as on 08.02.2013. Mr. Bhatt, learned counsel therefore submitted that the respondent no.2 be given some time for further verification. 8. Mr. Yadav, learned counsel appe....