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Present Mr. Anil Airi, Advocate with Mr Siddharth Bawa, Advocate for Jagatjit Industries Ltd
Ms Bhanita, Advocate for respondent SP Gupta and Sons
Mr. Hashmat Nabe, Advocate for respondent in Co Appi (C)
62/2008
Mr Shri Singh, Advocate for iespondent in Co Appi (C)1
40/2008
Mr Fazlin Anarn, Advocate & Mr. V K Gupta, Advocate foi respondent in Co Appi (C) 44/2008, 45/2008, 46/2008, 47/2008, 52/2008 & 54/2008
Mr Rajiv Bakshi, Advocate in Co Appi (c) 51/2008
. Ms Pumirna Sethi, Advocate for Official Liquidator with Mr
S B Gautam, Official Liquidator
+ Co App! (C) 4/2007 in Co Pet 439/1999
+ Co App! (C) 1/2008 in Co Pet 439/1999
+ Co App! (C) 5/2008 in Co Pet 439/1999
+ CoApp! (C) 7/2008 in Co Pet 439/1999
+ Co App! (C) 9/2008 in Co Pet 439/1999
+ Co App! (C) 11/2008 Co Pet 439/1999
+ Co App! (C) 14/2008 in Co Pet 439/1999
+ Co App! (C) 15/2008 in Co Pet 439/1999
+ Co App! (C) 16/2008 in Co Pet 439/1999
+ Co App! (C) 17/2008 in Co Pet 439/1999
+ Co App! (C) 19/2008 in Co Pet 439/1999
+ Co Appi (C) 20/2008 in Co Pet 439/1999
• + Co Appi (C) 24/2008 in Co Pet 439/1999
+ Co App! (C) 30/2008 in Co Pet 439/1999
+ Co App! (C) 33/2008 in Co Pet 439/1999
+ Co App! (C) 35/2008 in Co. Pet.439/1999
+ Co App! (C) 40/2008 in Co Pet 439/1999
+ Co App! (C) 42/2008 in Co Pet 439/1999
+ Co App! (C) 43/2008 in Co Pet 439/1999
+ Co. App! (C) 44/2008 in Co Pet 439/1999
+ Co App! (C) 45/2008 in Co Pet 439/1999
+ Co App! (C) 46/2008 in Co Pet 439/1999
2011:DHC:8270
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+ Co App! (C) 47/2008 in Co Pet 439/1999
+
Co Appi. (C) 48/2008 in Co Pet 439/1999
+ Co Appi (C) 50/2008 in Co Pet 439/1999
+ Co Appi (C) 51/2008 in Co Pet 439/1999
+ Co App! (C) 52/2008 in Co Pet 439/1999
+ Co App! (C) 54/2008 in Co Pet 439/1999
+ Co Appi (C) 55/2008 in Co Pet 439/1999
+ Co Appi (C) 58/2008 in Co Pet 439/1999
+ Co Appi (C) 62/2008 in Co Pet 439/1999
+ Co App! (C) 63/2008 in Co Pet 43911999
+ Co App! (C) 65/2008 in Co Pet 439/1999
+ Co Appi (C) 66/2008 in Co Pet 439/1999
(In the matter of MIs Jagatjit Brown Forman (India) Ltd)
Jv o 23'' May, 2011, this Court had passed the following order -
"Mr And Airi, learned counsel along with Mr Siddharth
Bawa, learned counsel for M/s Jagatjit Industries states z. that the company (In lzqn) was a joint venture between
M/s Brown Forman Mauritius Limited and MIs Jagatjit
Industries He states that the aforesaid joint venture had turned 'sour' way back in the year, 1999 He also states that this Court vide detailed order dated 19th December, 2003 appointed a Provisional Liquidator under Section
433(f) of the Companies Act, 1956 Mr And Airi, learned counsel contends that ever since then, the foreign company namely MIs Brown Forman Mauritius Limited has not
K li shown any interest in the company (In liqn) He also states that M/s Jagatjit Industries is also not interested in reviving this company, I also asked Ms Purnima Sethi, learned counsel for
Official Liquidator as to whether any amount is due and payable to any secured or unsecured creditor or to any workman She states that though no claim has been invited from the public at large, but till date neither any workman nor a)y secured or unsecured creditor has filed any claim with the Official Liquidator
If this is the position, then I fail to undem stand as t6..why
9/V the Official Liquidator is pursuing various claimsagainst third parties at great cost because even if. the Official
Liquidator were successful in recovering the money, the same would be refunded back to the contributorIes—who are not interested in pursuing the proceedings any further
Consequently, I direct the Official Liiuidator to be personally present before this Court on 26 May, 2011
List the matters on 26 May, 2011
In pursuance to the said order, Mr S B Gautam, Official
-' -i'-
Liquidator is personally present in Court He confirms that clauns had been invited in the year, 2005 and advertisements were published in
'Statesman' (English) and 'Daimk Jagran' (Hindi) on 29th Decernber,
JUDGMENT
2005 He points out that despite the last date of filing of the claims being 31st January, 2006, no claim either from any secured or unsecured creditor or from any orkmen has been received Mr S B Gautam, Official Liquidator states that a sum of Rs 4,00,000/- has been recovered from sale of two vehicles and from some decrees passed under Section 446 of the Companies Act, 1956 He also states that in case notices have to be served upon the unserved iespondents in the vaiious applications listed today and in those pending befoie the Registrar, the official Liquidator would have to incur expenditure worth Rs 7,00,000/- Mi Gautam, Official Liquidator further candidly admits that the ledger entries on the basis of which present recovery proceedings under Section 446 of the Comparnes Act, 1956 have been filed are not supported by any primary document like a voucher He also states that no debit or credit notes are available with the Official Liquidator Mr. Gautam lastly states that even if money decrees were to be passed by,this Court, it would be very difficult to the Official Liquidator to execute the said recovery, decree as most of the 1t T respondents being Annual Indian Made Foreign Liquor Licence holders would not be traceable Mr Anil Airi, learned counsel for Jagatjit Brown Forman (India) Ltd on instructions of Mr K K Kohli, Company Secretary of Jagatj it Brown Forman (India) Ltd confirms the fact that there are no secured or unsecured creditors of the company in liquidation and no further dues are payable to any workman He also reaffirms the fac I F that none of theJoint venre partners is interested in reviving the company in liquidation andlor in incurring any expenditure in serving majority of the unserved respondents In view of the aforesaid statement by, the Official Liquidator and Mr. And Airi, learned counsel for Jagatj it Brown Forman (India) Ltd as well as the fact that primary documents like invoices and
JUDGMENT