THE HON'BLE Ms. JUSTICE G.ROHINI COMPANY APPLICATION Nos. 968 AND 969 OF 2010 Dated: 26.11.2010 Between: M/s. Circar Paper Mills Limited ..... APPLICANT The Court made the following : THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION NOs.968 & 969 OF 2010 IN R.C.C.No.20 OF 2000 COMMON ORDER : These two applications filed by the Official Liquidator attached to this Court representing M/s. Circar Paper Mills Limited – the company in liquidation are heard together. M/s. Circar Paper Mills Limited was directed to be wound up by this Court by order dated 14.2.2001 in R.C.C.No.20 of 2000 and the Official Liquidator was appointed as the Liquidator. In pursuance thereof the Official Liquidator had filed in Form No.71, the certified list of all creditors who submitted their proofs of debts or claims against the company in liquidation. The same was taken on record by this Court on 31.07.2007 and subsequently by order dated 18.3.2009 made in C.A.No.197 of 2009, the Official Liquidator was permitted to vary the list of the creditors in Form No.71 duly incorporating the 55 names of the workmen, whose claims were found to be admissible. Accordingly, the Official Liquidator declared and disbursed the first dividend @ 63.77047 paise in a rupee. In the affidavit filed in support of the present applications, it is stated by the Official Liquidator that the claims of two more workmen were admitted subsequently by issuing respective Form No.69 and therefore there is a need to vary the list of creditors already settled by including the names of those two workmen i.e., Dasy Bhaskar and Gurtagani Soleman. Hence C.A.No.969 of 2010 under Rule 168 of the Companies (Court) Rules, 1959 seeking permission to vary the list of creditors of the company in liquidation. It is also stated that a sum of Rs.80,125-10 ps has to be disbursed to the said two workmen @ 63.77047 paise in a rupee towards first dividend amount. Hence C.A.No.968 of 2010 seeking permission to declare and disburse the first dividend to the said two workmen by dispensing with opening of separate dividend account and to disburse the same through P/D account itself. Having heard Sri M. Anil Kumar, the learned counsel appearing for the Official Liquidator and having regard to the facts and circumstances explained in the affidavit filed in support of the applications, particularly in view of the fact that claims of the above said two workmen are found admissible, it is necessary to vary the Certificate of list of creditors of the company in liquidation. Accordingly, I deem it appropriate to permit the Official Liquidator to vary the Certificate in Form No.71 by including the names of the above said two workmen, whose claims were adjudicated. So far as the disbursement of first dividend is concerned, as noticed above, the first dividend was already declared and disbursed @ 63.77047 paise in a rupee to those workmen, who were shown in the approved list of creditors as per the orders of this Court. The permission has now been sought by the Official Liquidator to disburse the first dividend to the two workmen who are newly admitted in the list of creditors in Form No.71. In the light of the admitted facts, the Official Liquidator is hereby permitted to declare and disburse the first dividend@ 63.77047 paise in a rupee to the two workmen of the company in liquidation also whose claims were found admissible. Since the first dividend was already paid to the other creditors, the publication of the notice of declaration of dividend in newspapers is hereby dispensed with and the Official Liquidator is permitted to send individual notices to the two workmen under Certificate of Posting. The Official Liquidator is also permitted to pay dividend during 6 months period after notices are issued. Having regard to the fact that the dividend amount pertains to only two workmen, opening of separate dividend account is dispensed with. The Official Liquidator is also permitted to incur necessary expenditure such as printing and posting and other incidental and ancillary expenditure out of the funds of the company in liquidation. Accordingly, both C.A.Nos.968 & 969 of 2010 are allowed as prayed for. ____________ G. ROHINI, J. Dt. 26.11.2010 Ivd