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IN THE MATTER OF WILLIARD INDIA LTD. & AGAUTA SUGAR LTD.

High Court of Judicature at Allahabad

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In The Matter Of Williard India Ltd. & Agauta Sugar Ltd. - COMPANY PETITION No. 26 of 2006 [2006] RD-AH 15565 (7 September 2006)

 

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).

HIGH COURT OF JUDICATURE OF ALLAHABAD

Court No. 30.

Company Petition No. 26 of 2006.

Connected with

Misc. Company Application No. 20 of 2006.

In the matter of

Willard India Limited.

Hon. Sunil Ambwani, J.

Sri S.K. Saxena, Official Liquidator has submitted a report along with fax message received from the Regional Director (NR) Company Affairs, NOIDA requesting for adjournment to submit his comments on the scheme.  It is pointed out that under Section 391 and 394A of the Companies Act, 1956, the Court has to  take into consideration, the representation, if any, made by Central Government  before passing any order. The Central Government was served on 14.8.2006.  There is no good reason to adjourn the matter. However, taking into account the facts and circumstances the Central Government  is granted time upto 16.9.2006, to submit its representation.

I have heard Sri Ravi Kant Senior Advocate, assisted by Sri Pushkar Mehrotra and Sri Jitendra Sethi appearing for Willard India Limited.  Sri Tilak Bose appears for Malalpur Steels Ltd has raised strong objections to the scheme.  Sri Vipin Sinha appearing for Pubjab National Bank states that the Company has  settled the matter with SBI Capital Markets Ltd. The terms of settlement have been enclosed. Ms. Rohma Hameed has filed objections on behalf of  Hindustan Composite Limited.  She, however, states that she has no further instruction in the matter.  Sri Ravi Prakash Srivastava  

2

has filed objection on behalf of Hindustan Sanitaryware and Industries Ltd.  Sri Bose submits that the  settlement with S.B.I. Capital Markets Ltd. is unfair. It ignores other similarly situate creditors.

The hearing of the objections have not been concluded.  List again on 20.9.2006, as  first case for hearing.  The Central Government shall file its representation on or before 18.9.2006.  The Official Liquidator shall communicate this order to the Regional Director.

Dt. 7.9.2006.

BM/-


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Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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