P.Anantharajan vs. Official Liquidator
Held
The High Court upheld the Company Judge's dismissal of the appellant's applications. It found no valid explanation for the appellant's long delay in approaching the Court after the EMD forfeiture and the Official Liquidator being allowed to re-tender the sale.
Facts
The appellant, the highest bidder for copper ingots in a liquidation sale, failed to remit the balance sale consideration along with 18% GST after the sale was confirmed. The Official Liquidator subsequently forfeited the appellant's EMD. The appellant's applications to set aside the forfeiture and allow installment payment were filed with significant delay.
Key Issues
Whether the Company Judge was correct in dismissing the appellant's applications to set aside the EMD forfeiture and allow installment payment, considering the appellant's delay in approaching the Court and the re-tender of the assets.
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE C.T.RAVIKUMAR & THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN MONDAY, THE 31ST DAY OF MAY 2021 / 10TH JYAISHTA, 1943 CO.APPEAL NO. 2 OF 2021 AGAINST THE ORDER DATED 23.09.2020 IN C.A.NO.75/2020 AND C.A.NO.76/2020 IN C.P. 2/1996 OF HIGH COURT OF KERALA APPELLANT/APPLICANT: 0 P.ANANTHARAJAN AGED 58 YEARS S/O. PERIYASAMY, NO.7, HAPPY HOMES, SIVANAGAR, IST MAIN ROAD, RAMALINGA NAGAR, TRICHY, TAMIL NADU, PIN-620 003. BY ADV BINDU GEORGE RESPONDENT/RESPONDENT: 0 OFFICIAL LIQUIDATOR HIGH COURT OF KERALA, COMPANY LAW BHAVAN, THRIKKAKARA P.O., COCHIN-21, (M/S PREMIER CABLE COMPANY LIMITED) (IN LIQN) BY SRI.K.MONI THIS COMPANY APPEAL HAVING COME UP FOR ADMISSION ON 22.3.2021, THE COURT ON 31.05.2021 DELIVERED THE FOLLOWING:
Co.Appeal No.2/2021 2 JUDGMENT Murali Purushothaman, J. The challenge in this appeal is against the common order dated 23.09.2020 in C.A. No.75/2020 and C.A. No.76/2020 in C.P. No. 2/1996. 2. The appellant participated in the auction held by the Official Liquidator for the sale of 5670 kilograms of copper ingots of M/s. Premier Cables Company Limited (in liquidation). The appellant was the
The judgment continues below.
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