BENGAL WATERPROOF LTD Vs. MALVIKA

JUDGEMENT

(1.) THERE are several creditors of this company which is trying to stave off liquidation, with many of the creditors having filed petitions of which two have been admitted and advertised. Upon the two advertised petitions appearing, all creditors ' petitions pertaining to this company were directed to be listed together and have appeared on at least three occasions. A few supporting creditors have joined in the fray by filing affidavits. The company has admitted the claims of the several creditors and supporting creditors as at March 31, 2013 to be as follows: <IMG>JUDGEMENT_286_CALHN1_2014.jpg</IMG>

(2.) EACH of the creditors above -named is represented and such creditors have accepted the dues as indicated by the company as at March 31, 2013, in most cases inclusive of interest. The company and the aforesaid creditors have agreed that the dues be frozen at the figures at March 31,2013 as indicated above, subject to repayment of the amounts as indicated herein.

(3.) A cheque for Rs.18,072/ - bearing No. 83830 dated April 1, 2013 and drawn on the same bank has been made over on behalf of the company to Indrajit Ball, the petitioner in CP No.566 of 2011, as reimbursement of advertisement expenses.