2013 (12) TMI 1754

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....;Uday Joshi, two weeks time was granted to him, as a last chance, to enable him to produce either of the two documents, viz. payment receipt from LIC or order of attachment having been vacated by the Court. The matter was listed on 2nd December, 2013 and on that day, again, learned advocate, Mr. Uday Joshi, for M/s. Trivedi & Gupta was granted time upto 16th December, 2013. Today, when the matter is called out, learned advocate, Mr. Joshi, repeats and renews his request for more time saying that the matter is very old and he is not able to get any paper in support of his case pleaded in Company Petition No.22 of 2012. 2. It is really painful that Company Law Board without being mindful of the fact that the petitioner before the Company L....

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.... Life Insurance Company was also taken over by LIC in the month of June 1956, leading to appointment of a Custodian for the properties of Presidency Life Insurance Company. Pursuant to such takeover of Presidency Life Insurance Company by LIC, it was found that some securities could not be accounted for, owing to which the Custodian instituted a suit being Misc. Petition No.222 of 1956, before the Hon'ble High Court of Bombay. 10. The Custodian passed an order attaching the entire estate of the said Mr. Nandvadan J. Gor and his family members viz. Sarlaben N.Gor (Wife), Shirish Chandra N Gor (Son) and Anila Shroff @ Anila Sinha (daughter). Even the shares held by the aforesaid persons in the Respondent No.1 Company, were attached. ....

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....d of his be taken at face value and be believed by all concerned including that of aforesaid payment was made. That too in absence of any proof of payment. This Court is not able to accept that a person will make payment of Rs. 31,19,100/- to LIC and will not obtain the receipt of such payment. The Court is also not ready to believe that the person will not have in his custody the papers relating to vacating of attachment after the amount is paid to LIC. In absence of any such document produced, it was warranted that the Company Law Board shall pass the order impugned in this appeal. 10. Learned senior advocate, Mr. Soparkar, invited the attention of the Court to interesting aspect that the prayer in this Company Petition was as under: ....