I.P.MUKERJI, J. - (1.) THE Court: - The company Gourepore Company Ltd was directed to be wound up, on 26th November, 1997, by an order of S.K. Sinha J. of this Court. It was at the instance of R.K. Garodia and company, in a winding up application (C.P. 355 of 1997). Several applications are before me for consideration. They have been made by various entities.
(2.) THERE is a company by the name of Ashray Vyapar (Pvt.) Ltd. It claims to have obtained assignment of the secured debts of the company towards Industrial Instrument Bank of India Allahabad Bank, Indian Bank and United Bank Of India by Deeds of Assignment. This debt close to Rs. 50 Crores was allegedly acquired by Ashray for only about Rs.9.5 crores. Now, they claim to be in the shoes of these secured creditors. Hence, they say they are the only secured creditor. There is another company by the name of Hilton Vinimay (Pvt.) Ltd. It claims to have bought 32.46% of the paid up capital, of the company in liquidation i.e., 3,11,664 shares after the winding up order. On 25th August, 2011, Ashray apparently entered into a Memorandum of Understanding with Hilton, as a result of which Ashray is today supporting the cause of Hilton to run the undertakings as a going concern.
(3.) THE company, before liquidation had 3700 workers. They should still be on the rolls maintained by the Official Liquidator. They have six unions. The claim by the workers on account of their unpaid dues is around Rs. 11 crores. Hilton has entered into a Memorandum of Understanding with the workers, also on 3rd September, 2011. As a result of this their learned counsel, Mr. Sarbapriyo Mukherjee submitted that the workers were supporting Hilton to run the company.;