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Present Mr Arni Airi, Advocate with Mr Siddharth Bawa, Advocat for Jagatjit Industries Ltd
Ms Bharnta, Advocate for respondent SP Gupta and Sons
Mr. Hashmat Nabe, Advocate for respondent in Co Appi ()
62/2008
Mr Shri Singh, Advocate for respondent in ,Co Appi (C)
40/2008
Mr Fazhn Anarn, Advocate & Mr V K Gupta, Advocate for respondent in Co Appi (C) 44/2008, 45/2008, 46/2008,'
47/2008, 52/2008 & 54/2008
Mr Rajiv Bakshi, Advocate m Co Appi (c) 51/2008
Ms Purrnrna Sethi, Advocate for Official Liquidator with Mr
S B Gautam, Official Liquidator.
+ Co Appi (C) 4/2007 in Co Pet 439/1999
+ Co Appi (C) 1/2008 in Co Pet 439/1999
+ Co App! (C) 5/2008 in Co Pet 439/1999
+ Co App! (C) 7/2008 in Co Pet 439/1999
+ Co App! (C) 9/2008 in Co Pet 439/1999
+ Co App! (C) 11/2008 C) Pet 439/1999
+ Co Appi (C) 14/2008 in Co Pet 439/1999
+ Co Appi (C) 15/2008 in Co Pet 439/1999
+ Co Appi (C) 16/2008 in Co Pet 439/1999
+ Co App! (C) 17/2008 in Co Pet 439/1999
+ Co Appi (C) 19/2008 in Co Pet 439/1999
+ Co App! (C) 20/2008 in Co Pet 439/1999
+ Co App! (C) 24/2008 in Co Pet 439/1999
+ Co App! (C) 30/2008 in Co Pet 439/1999
+ Co Appi (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 Appi (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 43911999
+ Co Appi (C) 45/2008 in Co Pet 439/1999
+ Co Appi (C) 46/2008 in Co Pet 439/1999
2011:DHC:10707
+ Co Appi (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 Appi (C) 52/2008 in Co Pet 439/1999
+ Co Appi (C) 54/2008 in Co Pet 439/1999 t
+ Co Appi (C) 55/2008 in
C o.Pet 439/1999
+ Co Appi (C) 58/2008 in Co Pet 439/1999
+ Co Appi (C) 62/2008 in Co Pet 439/1999
+ Co Appi (C) 63/2008 in Co Pet 439/1999
+ Co Appi (C) 65/2008 in Co Pet 439/1999
+ Co Appi (C) 66/2008 in Co Pet 439/1999
(In the matter of M/s Jagatjit Brown Fm man (India) Ltd)
On 23rd May, 2011, this Court had passed the following order -
"Mr. And Airi, learnedcounsel along with Mr Szddharth
Bawa, learned counsel for M/s Jagatjzt Industries states that the company (In liqn) was a joint venture between
IVils Brown Forman Mauritius Limited and Mis Jagatjzt
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 J9h1 December, 2003 appointed a Provisional Liquidator under. Section
433(1) of the Companies Act, 1956 Mr And Airi, learned counsel contends that ever since then, the foreign company namely M/s Brown Forman Mauritius Limited has not rf• shown any interest in the company (In liqn) He also states that Mis Jagatjit Industries is also not interested in reviving this company
I also asked Ms Purnzma 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, any secured or unsecured creditor has filed any claim with the Official Liquidator
If this is th position, then I fail to understand as to why the Official Liquidator is pursuing various claims against I third cial parties at great cost because even if the Offi
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 I
Consequently, I direct the Official Liiuidator to be personally present before this Court on 26 May, 2011 b tt
List the matters on 26th May, 2011
In pm suance to the said order, Mi S B Gautam, Official
Liquidator is peisonally piesent in Court He confirms that claims ha been invited in the yeal, 2005 and advertisements were published in glish) and ainik Jagian' (Hmdi) on 29th
Statesan' (En 'D m Deceinbe,
JUDGMENT
2005 He points out that despite the last date of filing of the clairn being 3l Januaiy, 2006, no claim either from any secured or unsecui ed creditoi or fi om any woi kmen has beentreceived Mr. S B Gautam, Official Liquidator states that a sum of Rs 4,00,000/- has been recovered from sale of two vehiclesand from ..................................................... some decrees passed under Section 446 of the Companies Act, 19561 .:. ..; .. . .. ..... . . . . . . . •:•. .... He also states that in case notices have to be served upon the unservec\ iespondents in the various applications listed today and in those pending before the Registiai, the official Liquidator wouldl , have tc incur expenditure worth Rs 7,00,000/- Mr Gautarn, Official Liquidator further candidly admits that the ledger entries on the basis of which present recovery proceedings under Section 446 of the Companies 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 Gautarn 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 iespondents being Annual Indian Made Foieign Liquor Licence holdeis would not be tiaceable Mr. Ami Airi, learned counsel for Jagatjit Brown Forman (India) Ltd on instructions of Mr. K K Kohii, Company Secretary of, Jagatj it Brown Forman (India) Ltd confirms the fact that there are no secuied or unsecured cieditors of the company in liquidation and no further dues are payable to any woikman He also reaffirms the fact hat none of the Joint venre partners is interested in reviving the do ompany in liquidation andlor, in incurnng any expenditure in serving majority of the unserved respondents In view of the aforesaid statement by the Official Liquidator and Mr Arni Airi, learned counsel for Jagatjit Brown Forman (India) Ltd as well as the fact that primary documents like invoices and
JUDGMENT