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  RD-AH 15565 (7 September 2006)
Court No. 30.
Company Petition No. 26 of 2006.
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
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.
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