M/S WRITERS AND PUBLISHERS PVT. LTD. versus DR. AK MISHRA, OFFICIAL LIQUIDATOR

M/S WRITERS AND PUBLISHERS PVT. LTD. versus DR. AK MISHRA, OFFICIAL LIQUIDATOR

The Court held that WPL was not entitled to an immediate refund of its entire investment as claimed; the CAG's verification of the auditor's report is final and binding; the Official Liquidator must evaluate and deal with WPL's claim in accordance with the statutory order of priorities under the Multi-State Co-operative Societies Act, 2002 and Rules and treat EPFO dues as first priority under Section 11(2) of the EPF Act; contempt petitions were dismissed.

Parties
Petitioner: M/S WRITERS AND PUBLISHERS PVT. LTD.; Respondent: Dr. A.K. Mishra, Official Liquidator
Jurisdiction
India
Judgment Date
05 March 2020
Procedural Posture
Contempt Petition / Final Judgment Dismissing Contempt Petitions
Outcome
Contempt petitions dismissed
Legal Topics
Winding Up, Liquidator Duties and Priorities, Revival Scheme of a Cooperative Society, Priority of Payment to EPF, Binding Nature of CAG Verification, Interpretation of Court Orders
Multi State Co Operative Societies Act, 2002 Multi State Co Operative Societies Rules, 2002 Employees' Provident Fund and Miscellaneous Provisions Act, 1952 Industrial Disputes Act, 1947 Contempt of Court Winding Up and Liquidation Winding Up Liquidator Duties and Priorities +4 more

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Parties

M/S WRITERS AND PUBLISHERS PVT. LTD.

Petitioner

Dr. A.K. Mishra, Official Liquidator

Respondent

Procedural Posture

Contempt Petition / Final Judgment Dismissing Contempt Petitions

Legal Issues

  1. 1 Whether M/s Writers and Publishers Ltd. (WPL) was entitled to a refund of its entire investment with interest as per the order dated 29 March 2016
  2. 2 Whether the Comptroller and Auditor General's (CAG) verification of the auditor's findings is final and binding
  3. 3 How claims are to be dealt with in liquidation under the Multi-State Co-operative Societies Act and Rules and the EPF Act

Ratio Decidendi

The Court held that WPL was not entitled to an immediate refund of its entire investment as claimed; the CAG's verification of the auditor's report is final and binding; the Official Liquidator must evaluate and deal with WPL's claim in accordance with the statutory order of priorities under the Multi-State Co-operative Societies Act, 2002 and Rules and treat EPFO dues as first priority under Section 11(2) of the EPF Act; contempt petitions were dismissed.

Court Disposition

Contempt petitions dismissed

Orders

  • Contempt petitions dismissed and all miscellaneous applications disposed of
  • The verification by the CAG of the auditor's determination is final and binding on all parties