OFFICIAL LIQUIDATOR SWASTIK Vs. MANAK CHAND AGARWAL

JUDGEMENT

(1.) HEARD learned Counsel for the applicant and perused the application. Application is under Section 457(1) of the Companies Act, 1956 by the Official Liquidator of M/s. Swastik House Leasing Limited (In Liquidation) by Judge's Summons and prayer has been made therein for issuance of the directions under the section aforesaid. Having heard the learned Counsel for the applicant I am satisfied that the application deserves acceptance and accordingly the same is allowed.

(2.) THE Official Liquidator shall have the powers with the sanction of the Court to settle the list of contributories and for filing of proof by the Creditors of the Company in respect of their debts and claims for priority if any under Section 530 of the Companies Act, 1956 and the exercise by the Official Liquidator, all or any of the powers under Section 457 and any -other matters requiring directions of the Court as follows,