Gujarat High Court
Official Liquidator Of Ardor ... vs Bank Of India on 5 May, 2018
Author: C.L. Soni
Bench: C.L. Soni
C/OLR/47/2018 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/OFFICIAL LIQUDATOR REPORT NO. 47 of 2018
In
COMPANY PETITION NO. 297 of 2016
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OFFICIAL LIQUIDATOR OF ARDOR INTERNATIONAL PRIVATE
LIMITED(IN LIQN.)
Versus
BANK OF INDIA
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Appearance:
MR JEET J BHATT(6154) for the PETITIONER(s) No. 1
OFFICIAL LIQUIDATOR(16) for the PETITIONER(s) No. 1
for the RESPONDENT(s) No. 1,10,2,3,4,5,6,7,8,9
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CORAM: HONOURABLE MR.JUSTICE C.L. SONI
Date : 05/05/2018
ORAL ORDER
1. Following are the prayers made in para 6 of the present report:-
a. This Hon'ble Court may be pleased to take on record and kindly ratify the action of taking over physical possession of the property No.2 (open plots i.e. adjoining plot No.5,6,7 & 8 known as "Rudra Vatika" Savita Co-op. Housing Society Ltd. Vibhag-1 situated at non agricultural land TPS-214, Village- Thaltej, Tal- Dascroi, Dist- Ahmedabad-9 (Bopal) of the company in (Liqn.) by the Official Liquidator as reported in para- 2 herein above.
b. That, this Hon'ble Court may be pleased to permit constitute of asset sale committee under the chairmanship of the Official Liquidator, Secured Creditors and workers if any, as members of the sale committee for taking action for sale/ disposal of the assets and properties of the said company in Liquidation as reported in para-4.
c. This Hon'ble Court may allow Official Liquidator to open the inventory-cum valuation report before the sale committee and direct Official Liquidator to submit its report along with recommendation of sale committee.
d. This Hon'ble Court may be pleased to ratify the action taken by Official Liquidator for deploying the Security Guard at the said Company premises for reasons mentioned in para-3 and permit the Official Liquidator to make payment of 01 security Page 1 of 2 C/OLR/47/2018 ORDER guard per shifts only i.e. (10:0 a.m. to 06.00 p.m.) deployed at property No.2 for safe guarding the assets and properties of Co. (In Liqn.) to M/s. Surya Security & Labour Services from Common Pool Fund of various Company (In Liqn.) maintained by O/o. Official Liquidator after receipt of bills, subject to recouping the same against the sale proceeds from Assets of the Co.(In Liqn.) in future.
e. ....."
2. Learned advocate Mr. Jeet Bhatt for the Official Liquidator submitted that as stated in the report, physical possession of the property No.2, as described in para 2 of the report, is taken over by the Official Liquidator and in respect of the properties of the company in liquidation, the Official Liquidator is required to constitute Asset Sale Committee under his leadership for sale/ disposal of the assets and properties of the company and after getting valuation of the properties done, the valuation report shall be required to be placed before the Sale Committee for the purpose of deliberation thereon by the Sale Committee. Mr. Bhatt also submitted that since to safeguard the company's properties, the Official Liquidator is to deploy security guards and to make payment of the security expenses to the security agency, as stated in the report, the Court may also ratify the action of the Official Liquidator for deploying the security guards and to make payment of the security expenses to the security agency.
3. The Court, having heard learned advocate Mr. Bhatt and having considered the contents of the reports and having taken note of the fact of taking physical possession of the property No.2, as described in para 2 of the report, by the Official Liquidator, finds that the prayers contained in para 6(a) to 6(d) could be granted.
They are accordingly granted. The Report stands disposed of.
(C.L. SONI, J) OMKAR Page 2 of 2