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Re-Hoffland Finance Ltd vs Unknown on 30 November, 2022

Author: Sanjeev Narula

Bench: Sanjeev Narula

                          $~CP-4
                          *     IN THE HIGH COURT OF DELHI AT NEW DELHI
                          +     CO.PET. 351/1999
                                RE-HOFFLAND FINANCE LTD.                                 ..... Petitioner
                                                   Through:     Ms. Ruchi Sindhwani, Senior
                                                                Standing Counsel with Ms. Megha B.,
                                                                Advocate for OL.
                                                                Mr. Sanjeev Ralli, Senior Advocate
                                                                with Mr. Piyush Dwivedi, Mr.
                                                                Shubham Yadav and Mr. Ravi Kant
                                                                Yadav, Advocates for Member of
                                                                Court appointed Committee with
                                                                Chaiman Col. P. M. Dubey.
                                                                Mr. Dheeraj Gupta, Advocate for
                                                                Applicant in CO. APPL. 230/2015.
                                                                Mr. Ramesh Babu MR, Ms. Manisha
                                                                Singh and Ms. Tanya Chowdhary,
                                                                Advocates for RBI.

                                CORAM:
                                HON'BLE MR. JUSTICE SANJEEV NARULA
                                             ORDER

% 30.11.2022 OLR No. 39/2022

1. OLR is taken on record. Ms. Ruchi Sindhwani, Senior Standing Counsel for Official Liquidator ["OL"], apprises the Court that attempt to auction concerned property in terms of order dated 30th August, 2022 did not succeed.

2. Ms. Sindhwani states that in light of the above development, OL is exploring other alternatives. At this stage, Mr. Sanjeev Ralli, member of the Court appointed Committee (vide orders dated 10th September, 2004, 17th July, 2006 and 28th August, 2006) states the Committee has certain Signature Not Verified Digitally Signed By:SAPNA SETHI Signing Date:02.12.2022 19:22:06 suggestions qua further course of action which they would like to share with OL. It is directed that if any such suggestion is received, OL shall consider the same.

3. In light of the above, OLR stands disposed of. CO.PET. 351/1999 & CO. APPL. 1286/2019

4. Ms. Sindhwani draws attention to order dated 26th September, 2022 to point out that Committee's report on third-party claims is still awaited. Mr. Ralli states that same is under preparation and delay has occurred on behalf of Chattered Accountant appointed by this Court, whose inputs are still awaited. The report be made available to OL in two weeks' time.

5. Re-notify on 20th December, 2022.

6. At request of counsel for Applicant, list on 15th March, 2023.

SANJEEV NARULA, J NOVEMBER 30, 2022 d.negi Signature Not Verified Digitally Signed By:SAPNA SETHI Signing Date:02.12.2022 19:22:06