Citicorp International Limited vs Shiv-Vani Oil & Gas Exploration ... on 14 May, 2019

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Delhi High Court - Orders

Citicorp International Limited vs Shiv-Vani Oil & Gas Exploration ... on 14 May, 2019

Bench: Jayant Nath

$~CP-10
*    IN THE HIGH COURT OF DELHI AT NEW DELHI
+    CO.PET. 446/2013
     CITICORP INTERNATIONAL LIMITED. .... Petitioner
                      Through
                      versus
     SHIV-VANI OIL & GAS EXPLORATION
     SERVICES LTD                               ..... Respondent
                      Through       Mr.Shubhendu Bhattacharyya, Adv.
                      for the Official Liquidator.
                      Mr.Ashish Virmani and Mr.Gollamudi Sri Harsha
                      Dutta, Advs. for Ex.Director.
                      Mr.Syed Mehdi Zaid and Mr.Hashmat Nabi, Advs.
                      for applicant PNB.
     CORAM:
     HON'BLE MR. JUSTICE JAYANT NATH
                      ORDER

% 14.05.2019 CA No.382/2019 This application is filed by PNB under section 434 of the Companies Act seeking transfer of the present petition to NCLT.

The learned counsel for the applicant is unable to inform the court the stage at which proceedings are pending before NCLT if any.

The learned counsel for the Official Liquidator seeks some time to file a reply. Needful be done within four weeks.

A copy of this application be given to the learned counsel for the Ex. Management who may also file a reply within four weeks.

List on 26.07.2019.

CA No.510/2019

1. This application is filed seeking following reliefs:

a) Direct the Port Master, Kakinanda Port Andhra Pradesh to hand over the Crew Boat/asset of Company (In Liqn.) to the Official Liquidator.

b) Appoint valuer empanelled for the locations Andhra Pradesh as per paragraph 3 of this application from Point 9-12 and Assam from Point 20-23.

c) To permit fresh Re-valuation for the sites located at Bokaro, Jharkhand and West Bengal as mentioned in paragraph 3 from Point 13-19.

2. Directions are issued to the Port Master, Kakinada Port Andhra Pradesh to hand over the Crew Boat/asset of Company to the Official Liquidator.

3. ITCOT Consultancy & Services Ltd., at 50-A, Greams Road, Chennai-600006 is appointed as the valuer for the locations Andhra Pradesh as per paragraph 3 of this application from Point 9-12 and Assam from Point 20-23.

4. Aich Appraisers Auctioners & Valuers, at FE-346, Sector-3, Salt Lake City (Near Tank No.12), Bidhannagar, Kolkata- 700106 is appointed as the valuer for the sites located at Bokaro, Jharkhand and West Bengal, Kolkata as per paragraph 3 from Point 13-19.

5. The fees of the valuers are fixed at Rs.75,000/- for valuation for each city plus out of pockets expenses Rs. 40,000/-.

6. The Official Liquidator is appointed as the liquidator of the respondent company. The publication of fresh citation is dispensed with. The application is allowed.

CO.PET. 446/2013

7. List on 26.07.2019.

JAYANT NATH, J.

MAY 14, 2019/v

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Delhi High Court - Orders