Official vs Gujarat

1. The present Official Liquidator Report has been preferred by the Official Liquidator of M/s.Maccas General Foods Private Limited (In Liquidation) for the following reliefs :

(A) This Hon'ble Court may be pleased to direct the Official Liquidator to disburse an amount of Rs.9,51,044/- amongst the workers of the company as per their individual respective entitlements in full and final payment and settlement of their dues.

(B) This Hon'ble Court may be pleased to direct the Official Liquidator to disburse an amount of R.9,58,254/- to Gujarat Industrial Co-Operative Bank Ltd., in full and final settlement / payment of the claim of respondent No.1 bank against the Company (In Liquidation).

(C) This Hon'ble Court may be pleased to permit the Official Liquidator to pay an amount of Rs.6,91,641/- to GIDC being its dues towards lease rent, etc. for the period prior to the date of winding up order i.e. upto 07/12/1990.

(D) This Hon'ble Court may also be pleased to permit the Official Liquidator to make the payment of Rs.30,333/- to M/s.Divyang P. Majmudar, Chartered Accountant, towards their professional fee bill for submitting verification report of workers claim, secured creditors claim and for fixing the ratio of disbursement amongst them.

(E) Such other and further orders and directions as this Hon'ble Court may consider just and appropriate may also be passed.

2. At the outset, it is required to be noted that the claim made by Gujarat Industrial Co-Operative Bank Ltd. was to the tune of Rs.87,19,272.22, against which, as per the Official Liquidator and Report of the Chartered Accountant only a sum of Rs.9,58,254/- is due and payable to the said Bank towards full and final settlement of the said Bank. Nothing is on record as to Whether the Official Liquidator has informed the said Bank that against the claim of Rs.87,19,272.22, they are entitled to Rs.9,58,254/- only. If such exercise would have been done, the said Bank could have objected the decision of the Official Liquidator on the basis of the Report submitted by the Chartered Accountant. Similar is the case with respect to the claim made by GIDC. Even the GIDC is not a party in the present Official Liquidator Report.

It is also required to be noted that even as per the Report of the Chartered Accountant and final percentage ratio fixed, Gujarat Industrial Co-Operative Bank Limited is entitled to 20.20 % and workmen are entitled to 79.80%. An amount due and payable to the workers is Rs.39,51,044/-, out of which, a sum of Rs.30 Lacs is already paid to the workmen. Official Liquidator has prayed to disburse an amount of Rs.9,51,044/- amongst the workers of the Company (after deducting an amount of Rs.30 Lacs, which is already paid to the workers). Even as per Report submitted by the Chartered Accountant, Workmen are entitled to Rs.39,51,044/- then how an amount of Rs.9,51,044/- can be paid to the workmen.

3. Considering the facts and circumstances of the case, Ms.Amee Yajnik, learned advocate appearing on behalf of the applicant seeks permission to withdraw the present Official Liquidator Report with a liberty to file a fresh Official Liquidator Report after following due procedure, after informing the respective claimants with respect to their entitlement as per Official Liquidator and after inviting objections, if any, from those Creditors and the workmen and after getting the claim verified afresh by the Chartered Accountant.

Permission is accordingly granted. The present Official Liquidator Report is dismissed as withdrawn with above liberty.

[M.R.SHAH,J] *dipti Top