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2013 DIGILAW 1548 (MAD)

K. M. Kunjappan v. Official Liquidator

2013-04-05

VINOD K.SHARMA

body2013
JUDGMENT 1. The Ex-Director of M/s. Mount Mechanical Works Private Limited has moved this application under Rule 9, 11(b), 19, 150 and 151 of Company Court Rules, 1959, to direct the learned Official Liquidator to pay interest on Rs.1,50,000/- (Rupees One Lakh and Fifty Thousand only) in Claim No.13/258/2005 from 01.02.1984 till the date of passing of orders in this application. 2. In C.P.No.42 of 1981, M/s. Mount Mechanical Works Private Limited was ordered to be would up by this Court on 01.02.1984 and the Official Liquidator attached to this Court was appointed as the Liquidator of the company and was directed to take charge of entire assets and effects of the company. 3. It is the case of the applicant, that the land belonging to the company was protected by him, which was finally sold by the Official Liquidator, and the sale proceeds of the land were paid to the secured creditors with interest and penal interest. 4. The applicant had resigned as Director of the Company in the year 1981 prior to the winding up order, but he continued to be the caretaker of the land belonging to the company. It is not understood as to which capacity, he continued to be the caretaker of the land belonging to the Company after he ceased to be the Director of the Company. 5. The case of the applicant is that he was responsible for protecting this land for 12 long years and handed it over to the Official Liquidator. The applicant claimed a sum of Rs.12,00,000/- (Rupees Twelve Lakhs only) for the services rendered by the applicant in protecting the land of company in liquidation, but the Official Liquidator rejected the application for want of any proof in support of this claim. 6. It may be noticed here, that the attendant appointed to protect the land, appointed by the applicant was paid the salary by the Official Liquidator. 7. The applicant being aggrieved by the rejection of his claim filed A.No.869 of 2011 in C.P.No.42 of 1981 in this Court. 8. This Court in appreciation of services rendered by the applicant, ordered payment of Rs.1,50,000/- (Rupees One Lakh and Fifty Thousand only) as full and final settlement of the claim. It is not disputed, that the payment stands paid. 9. 8. This Court in appreciation of services rendered by the applicant, ordered payment of Rs.1,50,000/- (Rupees One Lakh and Fifty Thousand only) as full and final settlement of the claim. It is not disputed, that the payment stands paid. 9. This Court did not grant any interest on the payment and even otherwise, the applicant did not have any legal right to claim this amount from the company in liquidation, and in fact this was ordered to be paid to the applicant on equity towards full and final claim. 10. Now, this application is moved by the applicant claiming interest on the amount from 01.02.1984. 11. This application is totally misconceived for the reasons; i) That once this Court while ordering Rs.1,50,000/-(Rupees One Lakh and Fifty Thousand only) as full and final settlement had not granted any interest. The applicant cannot move second application to claim interest. ii) That the amount of Rs.1,50,000/-(Rupees One Lakh and Fifty Thousand only) paid to the applicant was not due or payable by the company to the applicant, as he, being Ex-Director, was legally bound to protect the interest of the company, and was bound to hand over the property to the Official Liquidator immediately on winding up order. iii) That payment was by way of concession and was not legally due, which could attract interest; 12. No merit. Dismissed. No costs.