Telangana High Court
COMPA/1111/2012 of M/s.Turbo Bharath Ltd., (In Liqn.) Vs Sri M.S. Chalam, on 28 December 2012
SANJAY KUMAR COMPANY APPLICATION No.1354 of 2012 in C.A. No.1111 of 2012 and COMPANY APPLICATION No.1111 of 2012 in COMPANY PETITION No.151 of 2009 Date: December 28, 2012 Between: M/s. Turbo Bharath Ltd., (in liqn.) Rep. by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad.
COMPANYAPPLICATION No.1354 of 2012 in C.A. No.1111 of
2012
andCOMPANY APPLICATION No.1111 of 2012in COMPANY PETITION No.151 of 2009
Date: December 28, 2012
Between:
M/s. Turbo Bharath Ltd., (in liqn.)
Rep. by the Official Liquidator,
High Court of Andhra Pradesh,
Hyderabad. … Applicant
And
1. M.S. Chalam,
Ex-Managing Director of M/s. Turbo
Bharath Ltd., (in liqn.), Upperpally,
Hyderabad & 5 others. …
Respondents
* *
COMPANYAPPLICATION No.1354 of 2012 in C.A. No.1111 of 2012andCOMPANY APPLICATION No.1111 of 2012inCOMPANY PETITION No.151 of 2009
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COMMON ORDER:
This application is filed by the Official Liquidator on behalfof M/s.Turbo Bharath Limited, the company in liquidation, seekinga direction to M/s.Tata Capital Limited, the sole secured creditor ofthe company in liquidation, to permit the taking of possession ofthe books and records of the company in liquidation lying at the premises which is in the custody of the said secured creditor. Heseeks a further direction to the Commissioner of Police,Hyderabad, and the Station House Officer, Neredmet PoliceStation, Neredmet, Hyderabad, to facilitate the taking possessionof the books and records of the company in liquidation at the saidpremises.
2. The affidavit filed in support of the application reflects thatseparate proceedings have been initiated against the formerDirectors of the company in liquidation for their failure to submitproper statements of affairs. In that context, it came to light thatsome books and records of the company in liquidation were lyingat the premises situated in Plot Nos.3 and 6 of Seetharam Nagar,R.K. Puram Post, Secunderabad, which is in the custody of thesole secured creditor, M/s. Tata Capital Limited. Further, somemore files and records are stated to be lying at the old officeaddress of the company in liquidation situated at Plot No.88,Seetharam Nagar, R.K. Puram Post, Secunderabad, whichproperty is also in the custody of M/s.Tata Capital Limited. It is anadmitted fact that in the property situated in Plot Nos.3 and 6 ofSeetharam Nagar, R.K. Puram Post, Secunderabad, three roomshave been secured by the police authorities. The factum of thebooks and records of the company in liquidation being availablein the property situated at Plot Nos.3 and 6 of Seetharam Nagar,R.K. Puram Post, Secunderabad, is borne out by the inventorycarried out by the Official Liquidator pursuant to the order of thisCourt dated 06.11.2012 in Company Application No.797 of 2012.
3. As M/s.Tata Capital Limited, the sole secured creditor of thecompany in liquidation, has no concern with the books andrecords of the company in liquidation, there can be no objectionto handover the possession of the books and records of thecompany in liquidation which are lying in the premises of the company in liquidation, presently in the custody of the saidsecured creditor. The police authorities also can have noobjection to deliver the books and records of the company inliquidation to the Official Liquidator which are lying in the threerooms secured by them in the premises in Plot Nos.3 and 6 ofSeetharam Nagar, R.K. Puram Post, Secunderabad.
4. There shall accordingly be a direction to M/s.Tata CapitalLimited, the 4[th] respondent, and the Commissioner of Police,Hyderabad, and the Station House Officer, Neredmet PoliceStation, Hyderabad, respondents 5 and 6, to permit the OfficialLiquidator to take possession of the books and records of thecompany in liquidation lying in the premises of the company inliquidation in Plot Nos.3 and 6, on the one hand, and in Plot No.88,on the other hand, in Seetharam Nagar, R.K.Puram Post,Secunderabad. The Official Liquidator shall give advance noticeto respondents 4, 5 and 6 of his intention to take possession ofthe books and records lying in the premises on any date after04.01.2013 and shall conduct inventory of the books and recordsso taken into possession by him in the presence of respondents4, 5 and 6 or their authorised representatives, as the case may be. The premises shall be secured after the books and records of thecompany in liquidation are delivered to the Official Liquidator asper the earlier order of this Court in C.A. No.797 of 2012.
5. Company Application Nos.1354 of 2012 in C.A. No.1111 of2012 and Company Application No.1111 of 2012 are disposed ofaccordingly.
___________________
SANJAY KUMAR, J.
COMPANYAPPLICATION No.1354 of 2012 in C.A. No.1111 of2012andCOMPANY APPLICATION No.1111 of 2012inCOMPANY PETITION No.151 of 2009
Date: December 28, 2012
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