OFFICIAL LIQUIDATOR Vs. BHAGWAT SINGH

JUDGEMENT

(1.) ON 24 -2 -2000, the Court issued notices of this application to the respondent. Mr. Dalip Singh Shekhawat, made appearance on behalf of the respondent on 10 -1 -2003. At the request of Mr. Shekhawat four weeks time was allowed to him to file reply to the application. On 2 -5 -2003 Mr. Manu Bhargava sought an adjournment on the ground that Mr. Dalip Singh Shekhawat, is busy due to marriage of his younger brother and the matter was adjourned to 30 -5 -2003. However, in the matter, reply to the application has not been filed till date. Thus, the averments made in the application stands uncontroverted.

(2.) RESPONDENT No. 1 had taken a loan of Rs. 2,30,425 on 28 -3 -1994 from the company (in liquidation) for the purchase of a tractor. Despite giving of notices the amount of loan together with interest has not been paid so far. Thus, the application is filed by the Official Liquidator under Sections 446, 447 of the Companies Act, 1956 therein prayer has been made as under: - 'The respondent may be summoned and may be examined under Section 477 of the Companies Act, 1956 on oath in order to fix up the liability with regard To the aforesaid amount and order for payment of Rs. 3,80,201 (Rs. three lakh eighty thousand two hundred one only) as on 27 -8 -1999 plus further interest @ 12% on the amount thereafter till the date of payment may be passed in favour of the applicant -petitioner and the respondents may be held liable for payment jointly and severally. In the alternative the application may kindly be tried under Section 446 of the Companies Act, 1956 and a decree for the outstanding amount may be passed.'