- 1 - HC-KAR CNR: KAHC010601992010 NC: 2026:KHC:46178 CA No. 810 of 2010 In COP No.158 of 2002 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF AUGUST, 2026 BEFORE THE HON'BLE MS. JUSTICE JYOTI M COMPANY APPLICATION NO. 810 OF 2010 IN COMPANY PETITION NO.158 OF 2002 BETWEEN: OFFICIAL LIQUIDATOR OF M/S. RAYOTS TEXTILES & OILS PVT. LTD., (IN LIQN.) ATTACHED TO HIGH COURT OF KARNATAKA, 'CORPORATE BHAVAN', NO.26-27, RAHEJA TOWERS, 12TH FLOOR, M.G. ROAD, BENGALURU - 560001. …APPLICANT (BY SRI. K.S.MAHADEVAN, ADVOCATE) AND: 1. M.R.PATIL, HULKOTI, GADAG TQ, DHARWAD, KARNATAKA-582 205. 2. M.S.KOLHAR, MAIDUR, RANEBENNUR, DHARWAD, KARNATAKA 3. S.K.PATIL, BINKADA KATTI, GADAG TQ, DHARWAD, KARNATAKA 4. P.K.PATIL, HULKOTI, GADAG TQ, Digitally signed by PREMCHANDRA M R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010601992010 NC: 2026:KHC:46178 CA No. 810 of 2010 In COP No.158 of 2002 DHARWAD, KARNATAKA-582205. 5. N.R.SAWKAR, BELGAUM ROAD, GOKAK, BELGAUM, KARNATAKA-591307. 6. K.M.MULIMANI, HULKOTI, GADAG TQ, DHARWAD-582 205. …RESPONDENTS (BY SRI. PATIL KENCHANAGOUDA LINGANAGOUDA, ADVOCATE FOR; SMT. NANDITA K.NAIR, ADVOCATE FOR R1, R3 TO R6; VIDE COURT ORDER DATED 22.09.2011 R2 ABATED) THIS COMPANY APPLICATION IS FILED UNDER SECTION 543(1) OF THE COMPANIES ACT, 1956 READ WITH RULE 260 OF THE COMPANIES (COURT) RULES, 1959. THIS COMPANY APPLICATION IS LISTED FOR ARGUMENTS , THIS DAY AN ORDER IS MADE AS UNDER: ORAL ORDER Sri.K.S.Mahadevan., counsel for the applicant and Sri.K.L.Patil., counsel for respondents 1, 3 to 6 appeared in person. 2. The application is filed seeking following reliefs: - 3 - HC-KAR CNR: KAHC010601992010 NC: 2026:KHC:46178 CA No. 810 of 2010 In COP No.158 of 2002 a. Summon the respondents herein for the purpose of examination with regard to the matter specified therein. b. Direct the Ex-directors to make good the total amount of Rs.3,100/- as described in Para 8(a) above to the Official Liquidator together with interest @ 18% p.a. from the date of winding up order till the date of payment (or) any other rate as may be fixed by this Hon'ble Court. c. Direct the Ex-directors to make good the total amount of Rs.3,000/- as described in Para 8(b) above to the Official Liquidator together with interest @ 18% p.a. from the date of winding up order till the date of payment (or) any other rate as may be fixed by this Hon'ble Court. d. Direct the Ex-directors to make good the total amount of Rs.1,64,385/- as described in Para 8(c) above to the Official Liquidator together with interest @ 18% p.a. from the date of winding up order till the date of payment (or) any other rate as may be fixed by this Hon'ble Court. e. To order be to the that liberty granted to the Applicant/ Official Liquidator to file additional points of claim on receipt of the investigation report by the Chartered Accountant appointed by this Hon'ble Court. - 4 - HC-KAR CNR: KAHC010601992010 NC: 2026:KHC:46178 CA No. 810 of 2010 In COP No.158 of 2002 f. To order that the respondents do pay the costs of and incidental to this application. g. To pass such other order or orders as this Hon'ble Court may deem fit and proper in the circumstances of the case. 3. Counsel for the Official Liquidator, on instructions, submits that the Office of the Official Liquidator seeks a direction to the Ex-Directors to make good the total amount of Rs.1,64,385/-, together with interest thereon at the rate of 18% per annum. 4. Counsel appearing for respondents 1 and 3 to 6, on instructions, submits that the Ex-Directors, namely respondents 1 and 3 to 6, are ready and willing to pay the principal amount, and seek waiver of the interest component. 5. The submissions made by the counsel appearing for the respective parties are placed on record. 6. Having regard to the nature of the lis between the parties and upon consideration of the submissions made, this Court deems it appropriate to pass the following order: - 5 - HC-KAR CNR: KAHC010601992010 NC: 2026:KHC:46178 CA No. 810 of 2010 In COP No.158 of 2002 In full and final settlement of the claim of the Office of the Official Liquidator, including the interest claimed at the rate of 18% per annum, the Ex-Directors, namely respondents 1 and 3 to 6, are directed to pay a lump sum amount of Rs.3,22,000/-, inclusive of the principal amount, within a period of four weeks from the receipt of a certified copy of this order. 7. Accordingly, the application is allowed in part. Sd/- (JYOTI M) JUDGE MRP List No.: 1 Sl No.: 12