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Gujarat High Court

Gujarat Industrial Investment ... vs Official Liquidator Of Global Arya ... on 25 November, 2014

Author: N.V.Anjaria

Bench: N.V.Anjaria

        O/COMA/244/2013                              ORDER



         IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

               COMPANY APPLICATION NO. 244 of 2013

              In COMPANY PETITION NO. 106 of 2002
===========================================================
 GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.....Applicant(s)
                              Versus
        OFFICIAL LIQUIDATOR OF GLOBAL ARYA INDUSTRIES
                       LTD....Respondent(s)
================================================================
Appearance:
MR RD DAVE, ADVOCATE for the Applicant(s) No. 1
MR JS YADAV, ADVOCATE for the Respondent(s) No. 1
OFFICIAL LIQUIDATOR for the Respondent(s) No. 1
================================================================
        CORAM: HONOURABLE MR.JUSTICE N.V.ANJARIA

                          Date : 25/11/2014
                           ORAL ORDER

1. The applicant is the only secured creditor of  the company and has prayed for disbursement of an  amount of Rs.11,16,37,734/­which is on the basis  of   verification   report   of   the   Chartered  Accountant,   who   has   certified   that   the   said  amount   is   recoverable   by   the   applicant.   On   the  other   hand,   Official   Liquidator   has   filed   a  report in response, stating inter alia, that the  ex­Director of the company in liquidation stated  with   reference   to   the   statement   of   affairs   he  produced   that   the   applicant   company   is   entitled  to recover an amount of  Rs.1,69,21,744/­. 

2. The   amount   certified   by   the   Chartered  Page 1 of 2 O/COMA/244/2013 ORDER Accountant to be recoverable by the applicant and  what   is   coming   out   from   the   say   of   the   Ex­ Director, books a vast difference which needs to  be reconciled.

3. Before further orders could be passed, it is  expedient   that   the   applicant   produces   on   record  all   the   papers   which   were   placed   before   the  Chartered   Accountant,   so   also   the   Official  Liquidator   places   on   record   the   statement   of  affairs   on   the   basis   of   which   the   details   are  stated in its report.

4. Mr.J.S.Yadav, Official Liquidator states that  the report figuring at page­61 in compilation is  the only one­paged report given by the Chartered  Accountant. 

5. For   the   aforesaid   compliance,   matter   be  listed on 09.12.2014.

(N.V.ANJARIA, J.) siddharth// Page 2 of 2