Madras High Court has asked HCL Infosystems to produce the original of the document detailing the outstanding dues payable to it by crisis-ridden retail chain Subhiksha.
While hearing the winding up petition filed by HCL Infosystems, the court on Tuesday wanted the company to file the original of the document pertaining to the dues as the counsel for Subhiksha argued that the photocopy of the document filed earlier has been tampered.
“A few insertions, including a different date, has been made in the photocopy of the document and we maintained that it is a tampered copy,” said Prakash Gokhlaney, counsel for Subhiksha.
The court has given time till Thursday for HCL to produce the original documents. Apart from HCL, Kotak Mahindra Bank, which has provided a loan of Rs 40 crore to the retail chain, also has filed a winding-up petition against it.
The court had earlier appointed a provisional liquidator to control the assets of Subhiksha upon Kotak’s winding-up petition. However, Subhiksha later obtained an interim stay on the appointment of the provisional liquidator.
Sources: Financial Chronicle
