AROC cum Astt Official Liquidator, attached to the High Court of J&K, Haamid Bukhari while reviewing the pending liquidation matters in the UT of J&K has directed the effective disposal of the same within a time bound manner.
Chairing a meeting at the Srinagar office, Bukhari sought the review of every single case and the steps taken so far to dispose them off. Each of the pending cases were discussed at length and directions were given based on the priority of the case and the quantum of public interest involved in it. It is pertinent to mention that Office of Liquidator has statutory backing under the Companies Act, 1956 and the officer stands attached to the respective High Courts. The liquidation matters involve taking possession of the company’s assets under liquidation as per directions of High Court and then selling them through auctions to pay back the stakeholders their due share. There are more than 15 such matters at different stages of liquidation pending with the Official Liquidator’s office.