Official Liquidator Of Zenith Infotech ... vs The Bank Of New York Mellon, London ... on 15 December, 2021

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Bombay High Court

Official Liquidator Of Zenith Infotech ... vs The Bank Of New York Mellon, London ... on 15 December, 2021

Bench: B.P.Colabawalla

                                                                       2-OLR-94-2021.doc




                             IN THE HIGH COURT OF JUDICATURE AT BOMBAY
GANESH
SUBHASH                            ORDINARY ORIGINAL CIVIL JURISDICTION
LOKHANDE
Digitally signed by
GANESH SUBHASH
LOKHANDE                       OFFICIAL LIQUIDATOR'S REPORT NO. 94 OF 2021
Date: 2021.12.16
18:25:36 +0530                                    IN
                                    COMPANY PETITION NO. 28 OF 2012

                                                            In the matter of Companies
                                                            Act, I of 1956.
                                                                          And
                                                            In the matter of Zenith Infotech
                                                            Limited (In Liquidation)


                 The Bank of New York Mellon, London Branch               .. Petitioner



                 Mahendhar Aithe for the Official Liquidator.
                 Priyanka Shetty a/w Ms. Cheryl Fernandes i/b. AZB & Partners for the
                 Original Petitioner.


                                               CORAM :- B.P.COLABAWALLA, J.

                                               DATE     :- 15th DECEMBER, 2021.

                 P. C.:

1. The above Official Liquidator's Report (for short "OLR") has been filed seeking the following reliefs:

"(a) In view of para (20) above, whether this Hon'ble Court may be pleased to permit the Official Liquidator to declare dividend @ 3.13% in a rupee to the ordinary creditors against their Ganesh Lokhande 1/3 2-OLR-94-2021.doc admitted amount of claim amounting to Rs.20,46,33,724/-; as per para 21.

(b) In view of Para (22) & (23) above, whether this Hon'ble Court may be pleased to dispense with the requirements of Rule 276 of Company (Court) Rules, 1959 regarding news paper publication and permit the Official Liquidator to send the individual dividend notices to claimants by Speed Post to their last known addresses;

(c) In the view of para (24) above, whether this Hon'ble Court may be pleased to permit the Official Liquidator to open a "Separate Dividend Account" with Punjab National Bank, PNB House, Fort Branch, Mumbai, with a sum of Rs.

20,46,33,724/- and the Dividend shall be payable within a period of six months from the date of passing of this report or from the date on which the direction is given by this Hon'ble Court for declaration of dividend, whichever is later under Rule 290 of Companies (Court) Rules, 1959, and thereafter to transfer the unpaid / unclaimed dividend if any, to the "Companies Liquidation Account" maintained with the Registrar of Companies, Maharashtra, Mumbai as required under section 555 of the Companies Act, 1956."

2. Having perused the Liquidator's Report and hearing the representative of the Official Liquidator as well as the learned advocate appearing on behalf of the Bank of New York Mellon, the OLR is allowed in terms of prayer clauses (a) to (c) reproduced earlier.

Ganesh Lokhande 2/3

2-OLR-94-2021.doc

3. The above OLR is accordingly disposed of. No order as to costs.

4. All parties to act on an authenticated copy of this order digitally signed by the Personal Assistant /Private Secretary/Associate of this Court.

(B. P. COLABAWALLA, J.) Ganesh Lokhande 3/3

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