Madhya Pradesh High Court
M/S Bell Finvest (India) Ltd. vs M/S M.P. Proteins Pvt. Ltd. on 3 January, 2023
Author: Subodh Abhyankar
Bench: Subodh Abhyankar
IN THE HIGH COURT OF MADHYA PRADESH AT INDORE COMP No. 19 of 2013 (M/S BELL FINVEST (INDIA) LTD. Vs M/S M.P. PROTEINS PVT. LTD.) Dated : 03-01-2023 Shri Akshat Pahadia, learned counsel for the applicant.
Shri D.S. Panwar, learned counsel for the petitioner.
Shri H.Y. Mehta, learned counsel for the OL along with Official Liquidator.
On due consideration, IA No.5018/2021 which is an application for urgent hearing is allowed.
Also heard on OLR No.39/2019 filed by the Official Liquidator seeking the following reliefs:-
(i) Report of the Official Liquidator may kindly be perused and taken on record.
(ii) In view of submissions at Para 4 above, necessary permission may kindly be granted to release the valuation fee of Rs.50,000/- to the valuer - M/s MPCON Ltd, out of the fund available in the account of the company (In-Liqn.).
(iii) In view of submissions at Para 5 above, the Valuation report of asset/property of the company (In-Liqn.) marked as (ANNEXURE-"B'') submitted by Valuer M/s MPCON Limited, may kindly be opened and Reserve Price and Earnest Money Deposit may kindly be fixed for mentioning in the Sale Notice.
Registry may kindly be directed to provide one copy of valuation reports to the Official Liquidator to proceed in the auction proceedings.
(iv) In view of submission of Para 7 above, necessary permission may kindly be granted for publication of Sale Notice by inviting e-tenders in two newspapers (one is in English Daily Signature Not Verified Signed by: KHEMRAJ JOSHI Signing time: 03-01-2023 17:38:25 and other one is in Hindi Dialy) i.e.
(a) The Economic Times - All India Edition (English Daily)
(b) Dainik Bhakar - M.P. Edition (Hindi Daily)
(v) In view of submissions at Para 8 above, necessary permission may also be granted to release the advertisement expenses of Sale Notice to the advertising agency and fee for conducting e-auction to M/s e-Procurement Technologies Ltd., out of the fund available in the account of the company (In-Liqn.).
And Such other order(s) as this Hon'ble Court deem fit and proper may kindly be passed in the circumstances of the case."
From the aforesaid reliefs, relief No.2 has already been allowed on 02/12/2019 and so far as the other reliefs sought in the aforesaid OLR are concerned, since the valuation report was opened on 02/12/2019 and there are no objections in respect of the same, there is no legal impediment to allow the other reliefs sought in the application/OLR.
Accordingly, OLR No.39/2019 is allowed in terms of the relief sought and the Official Liquidator is directed to file the compliance report after 8 weeks.
Let the matter be listed on 30/01/2023.
(SUBODH ABHYANKAR) JUDGE krjoshi Signature Not Verified Signed by: KHEMRAJ JOSHI Signing time: 03-01-2023 17:38:25