THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No. 1541 OF 2010 Date: 29.12.2010 Between: M/s. Uplands Finance & Chit Funds (P) Limited, Rep., by the Official Liquidator … Applicant THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No. 1541 of 2010 O R D E R : The Official Liquidator attached to this Court representing M/s. Uplands Finance & Chit Funds (P) Limited, the company in provisional liquidation filed this application under Sections 457 (1) (e) read with 528, 529, 529A and 530 of the Companies Act, 1956 and Rules 149 and 9 of the Companies (Court) Rules, 1959 seeking permission to invite the claims against the company in liquidation from the creditors and publication of advertisement inviting claims in the daily news papers. I have heard Sri M.Anil Kumar, learned counsel appearing for the Official Liquidator. The material available on record shows that by order dated 11.06.2002 made in Company Petition No.38 of 2002, this Court appointed Official Liquidator attached to this Court as the provisional liquidator of M/s. Uplands Finance & Chit Funds (P) Limited. Thereafter, in terms of the order dated 02.09.2003, in C.A.No.4 of 2003, the assets of the company were taken possession and the movable properties were sold and it is stated that a sum of Rs.12,57,214.48 ps. is lying to the credit of the company in liquidation. So as to quantify the claims of the company in liquidation under Sections 457(1) (e) read with 528, 529, 529A and 530 of the Companies Act, 1956, the present application has been filed to permit the Official Liquidator to invite the claims by publishing the notice in the news papers. Having regard to the facts and circumstances noticed above, the Official Liquidator is hereby permitted to invite claims against the company in liquidation by publishing a notice in the daily news papers of Andhra Jyothi and Indian Express in circulation at Hyderabad and Visakhapatnam Districts. The publication charges shall be paid from the funds of the company in liquidation lying with the secured creditors. The Company Application is accordingly disposed of. No costs. ____________ G. ROHINI, J Date: 29.12.2010 KLP