Madhya Pradesh High Court
In Ref : M/S Dhar Cement Ltd. vs --- on 8 August, 2017
COMP-17-2002
(IN REF : M/S DHAR CEMENT LTD. Vs ---)
08-08-2017
OLR 31/17 & OLR 59/16 Parties through their counsel.
Shri H.Y. Mehta learned counsel for OL submits that in view of the orders passed on 8/5/17 & 23/6/17 no further orders on these OLRs are required.
OLR 31/17 & OLR 59/16 are accordingly stands closed in view of the aforesaid orders.
IA No. 3282/15 Parties through their counsel.
At the request of Shri H.Y. Mehta learned counsel for OL the IA is adjourned.
List on the next date of hearing.
IA No. 3550/17, 3551/17, 3552/17, 3553/17, 3554/17, 4415/17, 4417/17, 4418/17, 4419/17 and 4420/17 Shri D.S. Panwar learned counsel for applicant. Shri H.Y. Mehta learned counsel for OL prays for time to file reply if required.
List on 22/9/2017.
OLR 63/17 Shri H.Y.Mehta learned counsel for OL. Shri D.S. Panwar learned counsel for workers union. Shri Prateek Maheshwari learned counsel for purchaser of lot no.1 & 2.
Heard.
By this OLR, the OL has sought permission to take further steps for sale of the assets in lot no.3.
It has been pointed out that this court had permitted the valuer/MPCON to submit the valuation report in respect of lot no.3. Thereafter the subsequent proceeding had taken place.
Having regard to the fact that best possible price is to be fetched for assets contained in lot no. 3 the submission of Shri Prateek Maheshwari learned counsel that lot no. 3 should be sold to the purchaser of lots no. 1 & 2 without conducting any auction cannot be accepted.
In order to ensure expeditious disposal of the assets contained in lot no. 3, the OL is permitted to issue the sale notice to invite e-tenders for lot no. 3 by publishing the same in Economic Times, All India Edition (English Daily) & Dainik Bhaskar, MP Edition (Hindi Daily). OL is permitted to release the advertisement expenses of sale notice to the advertising agency and fee to e-auction agency M/s e-procurement Technologies Pvt. Ltd. Ahmedabad out of the fund available in the account of the company in liquidation.
Counsel for OL has also submitted that since the lease of the land in lot no. 3 is for a particular purpose, therefore, restrictive land use will be disclosed in the auction notice itself.
OLR 63/17 is accordingly disposed off. List after three weeks.
(PRAKASH SHRIVASTAVA) JUDGE