Search Results Page

Search Results

1 - 10 of 11 (0.43 seconds)
Regional Provident Fund Commissioner vs The Officeial Liquidator Of M/S. Zadona ... on 6 January, 2016 cites

Union Of India vs Raman Iron Foundry on 12 March, 1974

There is no question of the Official Liquidator himself adjudicating these damages. That jurisdiction rests exclusively with the authorities under the PF Act. Till such adjudication is made, there is no debt provable before the Official Liquidator. The following observations of the Supreme Court in relation to the nature of a claim for unliquidated damages for breach of contract, in the case of Union of India Vs. Raman Iron Foundry3, are instructive in this behalf :
Supreme Court of India Cites 10 - Cited by 380 - P N Bhagwati - Full Document

Idbi Ltd vs Official Liquidator on 7 June, 2011

There is no difficulty about payability of such interest under Section 7Q; the question is whether such interest is provable in winding up of an insolvent company. Rule 179 of the Companies (Court) Rules contains the only provision for payment of interest after the date of the winding up order. In the first place, such interest is paid only in the event of there being a surplus after payment in full of all claims admitted to proof and secondly, it cannot exceed 4 per cent per annum on the admitted amount of the claim. As held by our Court in IDBI Ltd. Vs. Official Liquidator, High Court of Bombay, Nagpur Bench 4 and in Re Pal Peugeot Ltd.,5 creditors of a company (who would include even workmen to the extent of their dues) cannot claim in winding up interest for the period subsequent to the winding up if there is no surplus and even in the event of surplus, interest of more than 4 per cent per annum. Secured Creditors may pursue their remedy outside winding up. Likewise, workmen can enforce their charge over the property outside winding up to recover their dues. In such a case, the condition of interest being payable only in certain event and subject to a certain extent, may not apply. But if secured creditors or workmen approach 4 2011 (4) ALL MR 770 5 Company Petition No. 110 of 2000 dated 22/09/2011.
Bombay High Court Cites 44 - Cited by 3 - R K Deshpande - Full Document
1   2 Next