High Court of Judicature at Allahabad
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In The Matter Of Raza Textiles Ltd. - MISC. COMPANY APPLICATION No. 3 of 1994  RD-AH 7941 (19 April 2006)
Hon'ble Sunil Ambwani, J.
Present Shri Rajnath N. Shukla, learned counsel for the Official Liquidator; Shri S.K. Saxena, Official Liquidator; Suman Sirohi holding brief of Shri K.P. Agarwal, for workmen and Shri Om Prakash Misra for IFCI and ICICI.
The valuation report of movable and immovable assets of M/s Raja Textiles Ltd. (In Liq.) prepared by G.S. Birdie, Chartered Accountant and registered valuer dated 7.3.2006 has been placed on record. He has given a detailed valuation with regard to the properties, lands, trees, staff quarters, plant, machinery etc.
Shri Om Prakash Misra has raised an objection with regard to extent of the land valued by the valuer. According to him, some of the land has not been valued. He is permitted to inspect the report of Official Liquidator including report submitted by the Chief Secretary in pursuance of orders of this Court to find out the encroachment and fixing the responsibility in the year 2001. He prays for and is granted one week's time to file his objection, if any, to the valuation report.
Suman Sirohi appearing for the workmen has also been handed over copy of the valuation report. She prays for and is granted two weeks time to circulate the report to the workmen and file objection, if any, to the occupations, area, measurements and valuation. The Official Liquidator reports that some of the ex workers residing in the staff quarters are not paying rent and that the Court had made it clear that the offer for purchase to the ex-workmen on priority basis will only be given to those who are paying rent regularly. The workmen are also invited to make offers for purchase of the quarters occupied by them provided they are bonafide ex workers and they are paying the rent and show their bonafide for purchasing the quarters.
Shri Om Prakash Misra may inform the financial institutions represented by him to take instructions from Kotak Mahindra Ltd which has been assigned with the dues of IFCI and State Bank of India.
List on 10.5.2006
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