IN RE: INDIA CAPACITORS LTD. Vs. STATE

JUDGEMENT

(1.) This application has been moved by M/s. Cygnus Developers India Pvt. Ltd., praying for refund of a sum of Rs. 10,00,000/- that had been deposited by it on 26th May, 2005 with the Official Liquidator and was kept in the account of the company in liquidation.

(2.) The company in liquidation, M/s. India Capacitors Ltd., was directed to be wound up pursuant to the BIFR?s order dated 31.03.1997 under Section 20(1) of the Sick Industrial Companies Act, 1985.

(3.) The Official Liquidator attached to this Court was appointed as the liquidator on 23.10.1997.