SUDARSAN CHITS (INDIA) LTD Vs. NARASIMHULU CHETTY

JUDGEMENT

(1.) This is a claim filed by the Official Liquidator as the Provisional Liquidator of Sudarsan Chits (India) Ltd., (hereinafter referred to as the "Liquidator"). The claim is for the realisation of the amounts alleged to be due to the company in liquidation from the respondents, the liability of the respondents arose out of a Kuri conducted by the company in liquidation. The other details of the claim are not necessary for the disposal of the point arising for consideration and as such are not being referred to.

(2.) The petition for winding up in this case was filed on 2.1.1981 and the winding up order was passed on 13.10.1981. On 13.10.1981 itself the Official Liquidator was appointed as the Liquidator of the company. The company filed appeals M.F.A. Nos. 518, 519 and 520 of 1981 against the. order of winding up and the Division Bench in appeal by an interim order stayed the winding up order and directed the official liquidator to continue as the Provisional Liquidator of the company. Later while disposing of the appeals on 8.10.1982 the Division Bench kept the order of winding up in abeyance and directed the official Liquidator to continue as the Provisional Liquidator. The company has filed special leave petition 7634-35-36 of 1983 against the decision of the Division Bench which was pending before the Supreme Court till 14.9.1992 on which day it was dismissed as not pressed. Thus the Official Liquidator is continuing as the Provisional Liquidator from 13.10.1981 onwards. The Liquidator so appointed was given sanction to file claims as required by S.446(2) and 457(1) (a) of the Companies Act (for short "the Act") only on 16.8.1984 by the Supreme Court as per its decision reported in Sudarsan Chits (I) Ltd. v. G. Sukumaran Pillai ( AIR 1984 SC 1579 ). This claim is in respect of a liability due on the date of presentation of the winding up petition and was filed only on 6.12.1991, long after the expiry of 3 years from the date on which the Liquidator was accorded with necessary sanction for filing claims under S.446(2) of the Act read along with S.457(1)(a) of the Act. There are at present about 700 claims pending before this Court which are filed after 27.5.1989.

(3.) In Sudarsan Chits (I) Ltd. v. Smt. Uma Sharma (1992) 73 Com. Cases 381, John Mathew, J. in the case of a claim filed by the liquidator of this company itself, has held as follows: