OFFICIAL LIQUIDATOR OF PIRAMAL FINANCIAL SERVICES LTD Vs. DILJIT BUILDERS AND ASSOCIATES P LTD AND ANOTHER

JUDGEMENT

(1.) The applicant, Official Liquidator, has taken out the Judge's Summons, in which, the applicant has prayed for the following reliefs:-

(2.) Heard learned advocate Mr. R.M. Desai for the Official Liquidator, learned Senior Counsel Mr. Mihir Thakore with learned advocate Mr. Bijal Chhatrapati for J. Sagar Associates for the respondents.

(3.) Learned advocate Mr. R.M. Desai for the Official Liquidator submitted that the Reserve Bank of India preferred Company Petition No. 147 of 2000, wherein, it was prayed that Piramal Financial Services Limited, be wound up under the provisions of Section 45 of the Reserve Bank of India Act. This Court admitted the said petition on 20.10.2000, and appointed the Official Liquidator attached to this Court as Provisional Liquidator of the said company. Thereafter, this Court passed an order on 20.3.2001, by which, the said company was ordered to be wound up by and under the supervision of this Court, and the Official Liquidator, who was appointed as Provisional Liquidator by earlier order, was appointed as Liquidator of the said company, with a direction to exercise the powers under the provisions of the Companies Act of 1956.