Calcutta High Court
Tata Steel Limited vs The Official Liquidator & Anr on 18 July, 2016
Author: Soumen Sen
Bench: Soumen Sen
ORDER SHEET
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
ORIGINAL SIDE
CA No.463 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
TATA STEEL LIMITED
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
AND
CA No.464 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
THE ADMIN OF THE SPEC UNDERTAKING OF THE UNIT TRUST OF INDIA
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
AND
CA No.465 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
W.B. INDUSTRIAL DEVELOPMENT CORPORATION LTD.
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
AND
2
CA No.466 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
UNITED INDIA INSURANCE CO. LTD.
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
AND
CA No.467 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
TRL KROSAKI REFRACTORY LTD.
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
AND
CA No.489 of 2016
With
BIFR No.153 of 1987
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQN.)
AND
GENERAL INSURANCE CORPORATION OF INDIA
-VS-
THE OFFICIAL LIQUIDATOR & ANR.
BEFORE:
The Hon'ble JUSTICE SOUMEN SEN
Date : 18th July, 2016.
Appearance:
Mr. Shekhar B. Saraf, Adv.
Mr. Ganesh N. Jajodia, Adv.
Mr. Sakya Sen, Adv.
Mr. Kuldip Mullick, Adv.3
Ms. D. Dutta, Adv.
Mr. Tilak Bose, Sr. Adv.
Mr. Anupam Dasadhikari, Adv.
The Court : The Official Liquidator has filed an affidavit in which the Official Liquidator has admitted a sum of Rs2,83,02,800/- without interest. The learned counsel appearing on behalf of the Official Liquidator submitted that a Letter for Direction is pending with regard to the disputed claim on account of interest.
These applications are disposed of by directing the Official Liquidator to pay the principal sum of Rs.2,83,02,800/- to the debenture trustee, namely, ICICI Bank Ltd. within a week from date. The debenture trustee on receipt of the said amount shall distribute the said amount amongst the debenture holders within a period of fortnight thereafter.
NIC and IDBI on furnishing of xerox copies of the debenture certificates duly certified by them shall be entitled to the amounts which are presently disallowed due to absence of verified documents.
The debenture holders will be entitled to make their respective submissions at the time when the Letter for Direction of the Official Liquidator with regard to the disputed claim on account of principal and interest if any.
In view thereof, these applications, being CA No.463 of 2016, CA No.464 of 2016, CA No.465 of 2016, CA No.466 of 2016, CA No.467 of 2016 and CA No.489 of 2016 are, accordingly, disposed of.
(SOUMEN SEN, J.) B.Pal