news details |
|
|
| HC directs to process claims in Gopal Arya finance scam | | | early times report
JAMMU, Mar 29: A high court division bench of chief justice F M Ibrahim Kallifulla and Justice Hasnain Massodi, in an application filed by Sunil Koul, today directed Receiver to process the claims of applicants in so far as it related to deposits other than share holding and if it was within the sum of Rs one lakh which were in the form of deposits or loan deposited with Gopal Arya Finance Mission Private Limited (GAFMPL).
The applicant sought a direction to segregate certain concerns floated by respondents for fixing liability and a further direction to release the amounts due to applicants stated to have invested in the associate concern of GAFMPL. The receiver Harbans Lal has, however, filed objections, taking the stand that the applicants being primarily share holders of the liquidated company GAFMPL, their deposits could not be treated at par with other depositors for whom alone maximum claims up to Rs one lakh could be processed.
It was also contended that in the March 15, 2010, order, a direction was issued that no claim of share-holders should be processed.
After hearing the two sides, the division bench found that apart from other investors, shareholders also claimed to have deposited money in the form of loan or other deposits with the company or its associated business concerns. As far as the realization of investment by share holders was concerned, there could be no two opinions that they would have to wait for the outcome of ultimate proceedings pending as on date. However, the DB found no reason as to why the deposits made by the applicants in any other form should also be kept pending, merely because they happened to be share holders of the finance company. No law or statutory prohibition was placed before the court to deprive the applicants to process their claims as far as it related to their deposits or loans advanced by them. Upon this, the DB directed the receiver to process the claims of applicants in so far as it related to deposits other than share holding and if it was within the sum of Rs one lakh.The receiver was directed to file a report in the court within three weeks. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
