Gujarat High Court
The Manager, Kotak Mahindra Bank Ltd vs O.L. Of Essen Computers Ltd on 10 January, 2025
NEUTRAL CITATION
C/COMA/8/2024 ORDER DATED: 10/01/2025
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IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/COMPANY APPLICATION NO. 8 of 2024
In R/OFFICIAL LIQUDATOR REPORT NO. 136 of 2019
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THE MANAGER, KOTAK MAHINDRA BANK LTD,
Versus
O.L. OF ESSEN COMPUTERS LTD & ORS.
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Appearance:
MR TIRTH NAYAK(8563) for the Applicant(s) No. 1
MR ABHIJIT P JOSHI(1330) for the Respondent(s) No. 1
MR B S SOPARKAR(6851) for the Respondent(s) No. 2,3
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CORAM:HONOURABLE MRS. JUSTICE MAUNA M. BHATT
Date : 10/01/2025
ORAL ORDER
1. This application is filed with the following prayers:
"(a) That the Hon'ble Court may be pleased to direct the Respondent No.1 to forthwith comply with the directions given in the judgment dated 11/04/2023 passed in OLR No. 136 of 2019 and file a fresh application/report pursuant to a fresh Chartered Accountant's report to be prepared as per the directions in the said judgement dated 11/04/2023 passed in OLR No.136 of 2019 within a period of two (2) weeks of the passing of the order or any other period as this Hon'ble Court deems fit and proper;
(b) For such other and further relief's as the facts and circumstances of the case may require and that this Hon'ble Court may deem fit."
2. Heard learned advocate Mr. Tirth Nayak for the applicant - original respondent No.3 in OLR No.136 of 2019. Page 1 of 5 Uploaded by MAYA S. CHAUHAN(HC01402) on Mon Jan 20 2025 Downloaded on : Sat Feb 01 00:02:37 IST 2025
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3. Learned advocate submitted that the applicant herein is a secured creditor of the company in liquidation having its registered office at the address shown in the cause title. Earlier an OLR No.136 of 2019 was filed by official liquidator placing on record the report of chartered accountant. In that OLR this Court in the judgment dated 11.04.2023 directed as under:
"Thus, the Official liquidator is directed to apprise the Chartered Accountant for preparing a fresh report in light of the afore-noted observations. Such report shall be prepared within a period of three months. The Official Liquidator shall file a fresh report after receipt of report from the Chartered Accountant."
4. Therefore, as per the directions of this Court in judgment dated 11.04.2023, in OLR 136 of 2019, a fresh report of chartered accountant was required to be prepared within a period of three months from the date of judgment i.e. on or before 11.07.2023. However, till date no report is filed which lead the applicant to file this Company Application. Learned advocate also pointed out that with regard to the various other applications filed seeking review of judgment dated 11.04.2023 and cognate such appeals would not have any bearing with regard to present application because under this application, the applicant is only praying to comply with the directions dated 11.04.2023 in OLR Page 2 of 5 Uploaded by MAYA S. CHAUHAN(HC01402) on Mon Jan 20 2025 Downloaded on : Sat Feb 01 00:02:37 IST 2025 NEUTRAL CITATION C/COMA/8/2024 ORDER DATED: 10/01/2025 undefined No.136 of 2019.
4.1. Learned Senior Counsel Mr. Soparkar assisted by Mr. Manya Anjaria appeared for respondent No.2 and 3 (original respondent No.1 and 2) and submitted that the delay occasioned in filing the Chartered Accountant's Report as directed under judgment dated 11.04.2023 in OLR No.136 of 2019, was on account of pending review application in OLR N0.136 of 2019. Now the review application has been disposed of. In view of the review being rejected, the order dated 11.04.2023 in OLR No.136 of 2019 is required to be complied with. Therefore, the directions issued under judgment dated 11.04.2023 in relation to filing of fresh report by chartered accountant shall have to be complied with. In other words, the learned Senior Counsel supported the submissions made on behalf of the learned advocate for the applicant Mr. Nayak.
4.2. Opposing the above application, the learned advocate Mr. Abhijit Joshi for official liquidator submitted that in compliance of the directions in the judgment dated 11.04.2023 in OLR No.136 of 2019, a communication was made to the concerned chartered accountant to prepare a fresh report. However, the chartered accountant vide his letter dated 23.07.2024 showed inability to prepare the report within the Page 3 of 5 Uploaded by MAYA S. CHAUHAN(HC01402) on Mon Jan 20 2025 Downloaded on : Sat Feb 01 00:02:37 IST 2025 NEUTRAL CITATION C/COMA/8/2024 ORDER DATED: 10/01/2025 undefined time line provided because of his health issues. Noticing the above fact, immediately a communication by the O.L. was made dated 19.12.2024, appointing new chartered accountant with a request to prepare the report as expeditiously as possible. Learned advocate Mr. Joshi submitted that as it is evident from the communication dated 19.12.2024 that necessary steps have been initiated in compliance of the directions dated 11.12.2024, at this stage no further directions are warranted. Further, the matter being complex, the chartered accountant may require certain more details and it may consume some more time. He therefore submitted that let the C.A. be provided an adequate time to prepare the report and once the report is prepared, it will be placed before this court.
5. Considering the submission and noticing the fact that in compliance of the directions dated 11.04.2023, efforts were made by Official Liquidator vide communication dated 19.12.2024, for appointing new Chartered Accountant to prepare the report, the official liquidator is further directed to do the needful to get the report as expeditiously as possible preferably, within a period of three months from the date of receipt of this order. With this direction, the present Company Application is disposed of.
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6. It is also open for the official liquidator to place on record the Chartered Accountant's report, if received prior to the time expected.
(MAUNA M. BHATT,J) MAYA Page 5 of 5 Uploaded by MAYA S. CHAUHAN(HC01402) on Mon Jan 20 2025 Downloaded on : Sat Feb 01 00:02:37 IST 2025