Gujarat High Court
Extrusion Processes Private Limited vs Official Liquidator Of Shree Vallabh ... on 28 April, 2015
Author: S.R.Brahmbhatt
Bench: S.R.Brahmbhatt
O/COMA/137/2015 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY APPLICATION NO. 137 of 2015
In
COMPANY PETITION NO. 157 of 2000
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EXTRUSION PROCESSES PRIVATE LIMITED....Applicant
Versus
OFFICIAL LIQUIDATOR OF SHREE VALLABH GLASS WORKS
LIMITED....Respondent
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Appearance:
MR KUNJAL D PANDYA, ADVOCATE for the Applicant
OFFICIAL LIQUIDATOR for the Respondent
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CORAM: HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
Date : 28/04/2015
ORAL ORDER
1. The applicant, who happens to be one of the unsecured creditor and decree holder has approached this Court by way of this application with following prayers;
[A] The Hon'ble Court be pleased to direct the Opponent to register the claim of the applicant as per "priority" under the Companies Act, 1956, in accordance with the Order of this Hon'ble Court in Company Application No.404 of 2007, dated 13/9/2007, at Annexure-B. [B] The Hon'ble Court be pleased to direct the Opponent to disburse the Page 1 of 4 O/COMA/137/2015 ORDER Applicant's claim as per "priority" at par with the Secured Creditors at the time of such disbursement, in accordance with the Order of this Hon'ble Court in Company Application No.404 of 2007, dated 13/9/2007, at Annexure-B. [C] The Hon'ble Court be pleased to pass such other and further orders as may be deemed fit in the interest of justice.
2. Learned counsel for the applicant invited this Court's attention to the order passed by this Court, annexed at page no.12, in the proceeding of Company Application No.404 of 2007 in Company Petition No.157 of 2000, which read as under;
Upon hearing Mr. Mehta for the
applicant and Mr. Yadav for OL, it
appears that the applicant is seeking
registration of the claim based on the Judgment and Decree of the Bombay High Court in Summary Suit No.2264/84.
Hence, upon the production of the certified copy of the Judgment and Decree of the Bombay High Court, OL to register the claim of the applicant based on such Decree and the same be considered at the time when the disbursement is to be made as per the Page 2 of 4 O/COMA/137/2015 ORDER priority under the Companies Act.
Disposed of accordingly.
3. Today on strength thereof, a submission is canvassed that in case if the applicant is not to be given priority in light of the provision of Sections 529A and 530 then, at least, let there be a proper intimation of his number in queue or let there be a direction to Official Liquidator that as and when the applicant's turn comes to receive the dues, he be intimated individually.
4. The representative of Official Liquidator invited this Court's attention to the communication dispatched from his office to the Officer and Director of the applicant Company dated 26.02.2015 and it was submitted that the stage so far as Section 530 is concerned, has not reached and therefore this application is required to be dismissed.
5. This Court is of the considered view that this application is required to be dismissed for the following reasons namely;
(i) The Court is unable to accept the contention raised on behalf of the applicant for seeking any priority in light of the provision of the Companies Act, 1956.
(ii) The Court is also unable to accept the contention of the learned counsel for the applicant Page 3 of 4 O/COMA/137/2015 ORDER that on the strength of the order, placed on record at page no.12, the applicant is required to be treated as such. The said order do not confer any further or better right and cannot confer, which is not available under the Companies Act 1956, to such a creditor. Therefore, this petition is misconceived and is required to be rejected.
(iii) The last request in respect of personal intimation is also not required to be heeded at this stage, as Official Liquidator's communication is absolutely clear and it goes without saying that as and when the stage comes the intimation would be published to all the concerned.
6. Therefore, the application being bereft of merits, deserves rejection and is accordingly rejected.
(S.R.BRAHMBHATT, J.) Pankaj Page 4 of 4