Raneegunj Electric Supply Company Calls for Creditor Claims
Introduction
The High Court at Calcutta has taken significant steps in resolving the liquidation of the Raneegunj Electric Supply Company Ltd., a case originally filed in 1985. The court has issued a directive inviting creditors to submit proof of their claims. This process is a key step in ensuring fair distribution of the company’s remaining funds, valued at approximately ₹50,54,158.
Background of the Case
The liquidation case of Raneegunj Electric Supply Company has been ongoing for decades. On 12th November 2024, Justice Ananya Bandyopadhyay presided over the case and reviewed a status report filed by the Official Liquidator. The report detailed the company’s financial position and recommended calling for claims through advertisements in Bengali, English, and Hindi newspapers.
Steps for Creditors
To participate in the claims process, creditors must:
- Submit a formal affidavit of proof of their debts or claims, including necessary details such as their names, addresses, and the particulars of their claim.
- Provide documentation supporting any priority claim under sections 529, 529A, and 530 of the Companies Act, 1956.
Deadline
All claims must reach the Official Liquidator at the High Court of Calcutta by 30th December 2024. Late submissions will not be considered for dividends or other distributions.
What Happens Next?
- Creditors may be asked to attend a review of their claim with the Official Liquidator, either in person or through an advocate.
- Final results, including a statement of funds and submitted claims, will be reviewed on 30th January 2025.
Conclusion
This development is a critical step in bringing closure to the long-pending case. If you are a creditor of the Raneegunj Electric Supply Company, ensure your claim is submitted on time to secure your rights in the fund distribution process.
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