Bombay High Court
Official Liquidator vs City Limouzene (India) Ltd on 9 January, 2019
Author: S.J. Kathawalla
Bench: S.J. Kathawalla
kpd 1 / 2 907-OLR-6-2019.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
OFFICIAL LIQUIDATOR REPORT NO. 6 OF 2019
IN
COMPANY PETITION NO. 234 OF 2010
AND
COMPANY PETITION NO. 326 OF 2010
In the matter of Companies Act, I of
1956;
And
1) In the matter of City
Limouzines (India) Ltd. (in Liqn.)
2) In the matter of City Realcom
Ltd. (In Liqn.)
Mr. Prasad Mhatre and another ... Petitioners
Mr. P. Atchuta Ramaiah, Official Liquidator, present.
Mr. Mahendhar Aithe, Company Prosecutor, present.
CORAM : S.J. KATHAWALLA, J.
DATED : 9th JANUARY, 2019 P.C.:
1. Perused the Report dated 8th January, 2019. The Report is allowed in terms of prayer clauses (a) and (b), which are reproduced hereunder :-
(a) Whether in view of the para (20) this Hon'ble Court may be pleased to permit the Official Liquidator to make third (3 rd) attempt to sell the movable and immovable / amalgamated flat(s) assets of the Company (In Liqn) situated at Flat No(s). 113, 114 & 115, Bldg. No.23, Samarth Nagar-III, Oshiwara, Andheri (W), Mumbai - 400 053 by fixing the reserve price and ::: Uploaded on - 10/01/2019 ::: Downloaded on - 11/01/2019 03:20:59 ::: kpd 2 / 2 907-OLR-6-2019.doc permit the Official Liquidator to advertise the Sale Notice in newspaper i.e. "Free Press Journal" (English) published from Mumbai and "Navshakti"
(Marathi) through Admire Publicity Private Limited (Advertisement Agency) and by displaying the sale notice on the websites of the Hon'ble High Court, Bombay, Official Liquidator, High Court, Bombay and Ministry of Corporate Affairs and also by pasting the sale notice on the notice board of Official Liquidator, High Court, Bombay as per approved Sale Notice and Terms and Conditions of sale by this Hon'ble Court.
(b) Whether in view of the para (21) this Hon'ble Court may be pleased to permit the Official Liquidator to make payment of the advertising charges for publication of sale notice / sale notice(s) to the advertisement agency from the funds available to the credit of the Company (In Liqn.), subject to deduction of TDS at the prevailing rate.
2. The reserved price is fixed at Rupees Four Crores Forty-One Lakhs only. EMD shall be 25% of the price offered.
3. Apart from the Free Press Journal and Navshakti Newspapers, the sale shall also be displayed on the Magicbricks and 99acres.com etc.
3. The above Report is accordingly disposed off.
( S.J.KATHAWALLA, J. ) ::: Uploaded on - 10/01/2019 ::: Downloaded on - 11/01/2019 03:20:59 :::