Jharkhand High Court
B.I.F.R. vs M/S.Umi Special Steel Ltd.Regd on 2 September, 2016
Author: Aparesh Kumar Singh
Bench: Aparesh Kumar Singh
IN THE HIGH COURT OF JHARKHAND AT RANCHI
Company Petition No. 02 of 2002
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B.I.F.R. --- ---- Petitioner
Versus
M/s UMI Special Steel Ltd. --- --- --- Respondent
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CORAM: The Hon'ble Mr. Justice Aparesh Kumar Singh
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For the Official Liquidator:Mr. H.K. Mehta, & Mrs. Manjusri Patra, Advocates
For the Bank of India: Mr. Rajesh Kumar & Mr. Amit Kumar, Advocates
For the UCO Bank: Mr. Satish Prasad, Advocate
For the IDBI Bank Ltd: Mr. Shivendra Kumar, Advocate
For the EPFO: Mrs. Banani Verma, Advocate
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149/ 02.09.2016Learned Official Liquidator has informed the Court that the process for disbursement of the workmen's dues in terms of the order dated 12.08.2016, is being undertaken. Some workmen have already appeared, cheques are also being prepared in their name and many other workmen are in the process of making their claims as they are spread over the country. He seeks three weeks more time to carry out the aforesaid exercise.
2. Learned counsel for the secured creditors submits that in terms of the same order, learned Official Liquidator is also required to disburse the admissible payments to the secured creditors from the corpus. Learned Official Liquidator and their counsel submit that the process would also be undertaken simultaneously.
3. Counsel for the EPFO seeks two weeks more time to offer her response to the I.A. No. 6718/2015 and I.A. No. 4675/2016. Counsel for the Secretary, U.M.I P.F Trust submits that request has also been made to the same applicant for transfer of funds to be administered through EPFO as Trust is more or less non-functional with Secretary and only one Trustee surviving. For that also, learned counsel for the the EPFO would also respond.
4. Accordingly, list the case after three weeks on 30.09.2016.
(Aparesh Kumar Singh, J) Ranjeet/