Calcutta High Court
Shiva Shakti Security Services vs Official Liquidator & Anr on 21 February, 2022
OD-2
IN THE HIGH COURT AT CALCUTTA
Civil Appellate Jurisdiction
ORIGINAL SIDE
APOT/20/2022
With
CP/202/2013
CA/10/2021
IA No: ACO/1/2022, ACO/2/2022
IAG COMPANY LIMITED (IN LIQN.)
AND
SHIVA SHAKTI SECURITY SERVICES
VERSUS
OFFICIAL LIQUIDATOR & ANR.
BEFORE:
The Hon'ble JUSTICE I. P. MUKERJI
AND
The Hon'ble JUSTICE ANIRUDDHA ROY
Date : 21st February, 2022
[VIA VIDEO CONFERENCE]
Appearance :
Mr. Shaunak Mitra, Adv.
Mr. Arindam Paul, Adv.
Ms. Parna Mukherjee, Adv.
... for Appellants
Ms. Aparajita Rao, Adv.
... for SBI
Ms. Smita Das De, Adv.
... for Official Liquidator
Mr. Nilay Sengupta, Adv.
... for Petitioning Creditor
The Court : We admit this appeal from the judgment and order
dated 5th January, 2022, passed by a learned single judge refusing to make
any order on the application and transferring the proceedings to the
National Company Law Tribunal, Kolkata.
Leave is granted to the appellant/petitioner to file a supplementary
affidavit.
2
We propose to hear out this appeal expeditiously, dispensing with
all formalities.
As the respondents are represented by learned counsel, issuance
and service of the notice of appeal are dispensed with. Learned advocate-
on-record for the appellant is directed to file an informal paper book by 11th
March, 2022 serving a copy thereof upon learned advocate-on-record for
the respondents, not less than three days before the date of hearing of the
appeal.
List this appeal for hearing on 21st March, 2022.
The facts of this appeal are more or less similar to APOT/19/2022,
connected with CP/77/2012 and CA/13/2019 (Fortune Furnitech Pvt. Ltd.
(In Liqn.) And Shiva Shakti Security Services Vs. Official Liquidator & Anr.)
in which we made an order admitting the appeal earlier this day. The only
point of difference in this case is that the winding-up order was passed on
30th January, 2019. The claim of the security agency is Rs.45,20,171/-.
The secured creditors are State Bank of India and Punjab National Bank. It
appears from the submissions made that till date State Bank of India has
been making payment for protection of the secured assets of the company
(in liquidation).
According to Ms. Rao, learned advocate appearing for State Bank of
India, there is no outstanding on account of security dues except for the
months of December, 2021 and January and February, 2022. Ms. Rao also
submitted that there were two secured assets, the office of the company at
Kolkata and another immoveable property in Jharkhand. The Kolkata office
has already been sold in proceedings under the SARFAESI Act in 2018.
That there is no outstanding is disputed both by Mr. Mitra, learned
advocate appearing for the appellant and Ms. Smita Das De, learned
advocate appearing for the official liquidator.
Taking all factors into account, we direct State Bank of India to
deposit Rs.20 Lacs with the learned Registrar, Original Side by 8th March,
2022. The learned Registrar will invest the said sum in a term deposit
with a nationalised bank earning the highest rate of interest upon
intimation to the parties. This deposit will be made without prejudice.
We stay the operation of the impugned judgment and order
with regard to transfer of the proceedings to the National Company
Law Tribunal, Kolkata.
The exact liability with regard to security charges has to be
ascertained, if this Court ultimately holds that it has jurisdiction to
entertain the subject application for payment of the outstanding dues
of the secured creditors. In that view of the matter, let affidavits be
exchanged in the stay petition as per the following directions.
Affidavit-in-opposition by 4th March, 2022; affidavit-in-reply
by 14th March, 2022.
List this appeal along with the stay application and the
connected appeal referred to in the second page of this order on 21st
March, 2022.
(I. P. MUKERJI, J.)
(ANIRUDDHA ROY, J.)
SN.
AR(CR)
