Madhya Pradesh High Court
In Ref. M/S Rajkumar Mills Ltd. vs --- on 28 March, 2017
COMP-1-2006
(IN REF. M/S RAJKUMAR MILLS LTD. Vs ---)
28-03-2017
Shri H.Y.Mehta, counsel for the O.L. along with the O.L.
Shri Romesh Dave, counsel for respondent/State.
Shri D.S.Panwar, counsel for the workers. Shri Ambarish Adhikari, General Manager, DIC Indore present in person.
Counsel for the State submits that record has been received today and skeleton reply has been drafted. He further submits that reply will positively be filed within 10 days.
OLR Nos.57/2016 and 15/2017 Shri H.Y.Mehta, counsel for the O.L. along with O.L.. Shri D.S.Panwar, counsel for the workers Union. Shri Sharma, counsel for the Provident Fund Authority. OLR No.57/2016 has been filed by the O.L. to accept the valuation report of lot No.3 (stock of cotton yarn fabric, readymade garments etc. at factory premises) and lot No.8 (Cloth Market Shop- shop at MT Cloth Market having two floors measuring 171 sq.mtr.).
The report of valuation of these two lots submitted by the valuer M/s MPCON Ltd. in sealed cover was opened by this court on 6.2.2017 and office was directed to supply a copy of the same to the counsel for the O.L. and the counsel for other concerned parties were permitted to obtain a copy thereof from the O.L. and submit their objections. No objections have been filed. Counsel present have also not opposed the valuation report, hence the valuation report submitted by M/s MPCON Ltd. for lot No.3 and 8 is accepted. O.L. is permitted to take necessary steps for sale of assets of the aforesaid two lots by inviting E-tender in two newspapers at DAVP/Govt. rate i.e. The Economic Times- M.P.Edition (English Daily) and Nai Dunia- M.P.Edition(Hindi Daily). He is also permitted to release the advertisement expenses of the sale notice to the advertising agency and fee for conducting the 'e-auction' to M/s e-Procurement Technologies Ltd, Ahemedabad, out of the fund available in the account of company in liquidation as per the terms and conditions dated 4.4.2016.
It is pointed out that there is some dispute in respect of other properties. In prayer clause 6, prayer has been made to file a separate OLR in respect of other lots. The prayer is granted.
So far as OLR No.15/2017 is concerned, prayer No.2 is for approval of the Reserve Price and EMD fixed by the O.L. in respect of Lot No.(3) and (8) for mentioning in the auction sale notice. The reserve price and EMD has been disclosed in para 3 of the OLR which is stated to have been fixed on the basis of fair market price and valuation report.
On due consideration, prayer is allowed. OLR No.15/2017 and 57/2016 are accordingly disposed of. List for consideration of OLR No.37/2016 on 24.4.2017. (PRAKASH SHRIVASTAVA) JUDGE