Delhi High Court - Orders
Hoffland Finance Limited (In Liqn.) vs Hoffland Remedies Ltd on 2 March, 2020
Author: Jyoti Singh
Bench: Jyoti Singh
$~C-19
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 737/2015
HOFFLAND FINANCE LIMITED (IN LIQN.) ..... Petitioner
Through
versus
HOFFLAND REMEDIES LTD. ..... Respondent
Through: Ms. Megha Bharara, Advocate for
Ms. Ruchi Sindhwani, Advocate for
OL
Mr. Ramesh Babu & Ms. Manisha
Singh, Advocates for RBI
CORAM:
HON'BLE MS. JUSTICE JYOTI SINGH
ORDER
% 02.03.2020 CO. APPL. 131/2020 This is an application filed by the Official Liquidator seeking approval of the Draft Sale Notice with respect to land situated at Village Rataul, Khekhra, Baghpat as well as to publish the Sale Notice.
It is averred in the application that this Court had vide order dated 24.05.2017 wound up the Company and the Liquidator attached to this Court was appointed as a Liquidator of Hoffland Remedies Ltd. Vide order dated 30.07.2019, a valuer was appointed to evaluate the above mentioned land. Valuation Report has been submitted on 20.11.2019 in a sealed envelope and the same was opened by the Official Liquidator. As per the report, the liquidation value of the land is Rs.23,30,000/- and the market value is estimated at Rs.33,30,000/-. It was decided by the Committee to auction the said land at the market value. Accordingly, approval of the Draft Sale Notice is sought.
Having heard the learned counsel for the applicant, the application is allowed. The Draft Sale Notice appended as Annexure C to the application is approved. The Official Liquidator is permitted to publish the Sale Notice as approved in the newspapers namely 'Hindustan Times' (English) UP Edition and 'Amar Ujala' (Hindi) UP Edition.
Advertisement expenses be met out of the available funds of the Company and also by taking a temporary loan subject to realisation from the sale proceeds of the assets of the Company (In Liquidation).
The dates of inspection are 14.04.2020 and 15.04.2020 at 11 a.m. on both the dates.
List before this Court for auction on 21st May, 2020.
JYOTI SINGH, J MARCH 02, 2020 rd/