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Judgment
IA 03 of 2022
This application is filed by RP who is the chairman of the managing committee appointed during approval of resolution plan. Learned counsel for the
applicant states that in view of the implementation of resolution plan, the money is being disbursed to the respective beneficiary as per the terms of
resolution plan. The copy of list of beneficiaries is annexed. As per the list, M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd is entitled to receive of
Rs. 43,952.72, but it is found that the said company M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd is already dissolved vide order dated 21.06.2021.
Copy of dissolution order passed by this bench is also annexed. Learned counsel states that in such a situation, the money shall go to the beneficiary
of. M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd. The list of beneficiaries of M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd is also annexed to
verify the names of the parties who are supposed to received money as beneficiary. There is only one name of unsecured financial creditors Mr.
AnilKumar Shyamsundar Singhal who is beneficiary and whose claim was accepted and admitted to Rs. 4,13,194/- against M/s. Subhalaxmi Dyeing &
Printing Mills Pvt Ltd. The copy of the list of stake holder is also annexed with the application. Learned counsel further states that as per the
waterfall, M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd is supposed to receive the money but in view of the above situation, the company being
dissolved, beneficiary of the said company shall be entitled to receive the money. Hence, this application is filed seeking permission to disburse of Rs.
43,952.72 to Mr. AnilKumar Shyamsundar Singhal as beneficiary of Ms. Subhlaxmi Dyeing & Printing Mills Pvt. Ltd. Learned counsel appearing for
respondent No. 2 being Mr. AnilKumar Shyamsundar Singhal states that she does not have any objection and request to allow application. We hereby
allow application and direct RP, who is the chairman of managing committee, to disburse Rs. 43,952.72 to Mr. AnilKumar Shyamsundar Singhal being
beneficiary / creditor of M/s. Subhalaxmi Dyeing & Printing Mills Pvt Ltd to enable RP to complete the process of implementation of resolution plan.
Application is allowed and disposed of in terms of above.