2005 (3) TMI 819

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....o. 1 MR RM DESAI for Respondent No. 2 MR AC GANDHI for Respondent No. 3 NOTICE SERVED BY DS for Respondent No. 4 MR SANDEEP SINGHI FOR SINGHI & CO for Respondent No. 5 ORDER The applicant, Textile Labour Association, has taken out this Judge's Summons seeking direction from this Court to the O.L. to pay an amount of Rs. 62,49,52,487/- as and when the properties are sold and t....

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....hereas the Secured Creditors' claim was worked out at 43.19%. Thereafter, the Chartered Accountant has submitted another report on 17.02.2004 and in the said report, the total claim of the Secured Creditors against the first and the second charge was worked out and ratio between the workers and Secured Creditors was also given in para 2 & 4 of Annexure A to the said report. As per the said rep....

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....quested the Court to keep this issue open. Since Mr. Vasavada is giving up his claim of distribution on the basis of the ratio worked out by the Chartered Accountant in the first report because of the small difference between two workings, the Court, without going into the merits of this controversy and having kept the said issue open which may be decided in appropriate case, hereby directs the Of....