Madhya Pradesh High Court
Senior Manager,Uco Bank vs M/S Zoom Developers (Pvt) Ltd. on 25 April, 2016
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COMP No.9/2011
25/04/2016
OLR No.7/2016 :-
Shri D. S. Panwar, learned counsel for the petitioner. Shri H. Y. Mehta, learned counsel for the Official Liquidator. Arguments heard.
In the present case, an order has been passed on 20/11/2014 for winding-up of M/s. Zoom Developers Pvt. Ltd. and Official Liquidator attached to this Court has been appointed as its Liquidator. The OLR has been filed for constituting Asset Sale Committee and for other necessary directions.
After hearing learned counsel for the parties for the purposes of effecting the sale of property of the Company and Unquoted Equity Shares held by the Company (in-liquidation) as well as for other purposes an Asset Sale Committee is certainly required to be constituted.
The Committee shall include all creditors as mentioned in the paragraph No.14 of the OLR alongwith Official Liquidator for the purposes of effecting the sale of property of the Company and Unquoted Equity Shares held by the Company.
The Asset Sale Committee shall take appropriate steps after holding the appropriate meeting.
Let the aforesaid exercise be done as soon as possible preferably within a period of 30 days from today and matter be listed for further orders on OLR No.7/2016 on 20/06/2016 .
(S. C. SHARMA) JUDGE Tej