Madhya Pradesh High Court
Senior Manager,Uco Bank vs M/S Zoom Developers (Pvt) Ltd. on 17 July, 2018
HIGH COURT OF MADHYA PRADESH COMP No.9/2011 Indore, Dated : 17.7.2018 IA No.3110/2017:-
Parties through their counsel.
Shri Dharmendra Chelawat, learned counsel for the ED is directed to supply copy of reply of IA to counsel for applicant within one week.
Rejoinder, if any, be filed within 2 weeks thereafter. List on the next date of hearing.
OLR No.20/2017 & IA No.4841/17:-
Shri Vijayesh Atre, learned counsel for the applicant in IA No.4841/2017.
Shri H.Y. Mehta, learned counsel for the OL.
Shri Dharmendra Chelawat, learned counsel for the ED.
Shri D.S. Panwar, learned counsel for the UCO Bank.
It is pointed out that IA No.4841/2017 is at the instance of Shri Ramareddy V. Guntaka, the highest bidder for the shares of M/s Sudarshan Biotech Private Limited in respect of Lot No.2 for confirming the sale in his favour. Same is the prayer in the OLR No.20/2017.
Learned counsel for the ED has submitted that the proposed purchaser Shri Ramareddy V. Guntaka is the Chief Scientific Advisor to M/s Sudarshan Biotech Private Limited and that M/s Zoom Developers had purchased the said shares of M/s Sudarshan Biotech Private Limited for Rs.16.6 Crores and now the shares have been purchased by Shri Ramareddy V. Guntaka for a sum of Rs.11,30,000/-. He submits that the proposed highest bidder is an interested person who has purchased the shares and the purchase has been done in collusion with M/s Sudarshan Biotech Private Limited.
Shri H.Y. Mehta, learned counsel for the OL is directed to produce the complete details of all the bids which were received in respect of the shares in question as also the recommendation of the Assets Sale Committee by which the bid was approved.
OLR No.42/17 & OLR 38/17:-
Shri H.Y. Mehta, learned counsel for the OL submits that OLR No.42/17 has been filed for making amendment in OLR No.38/2017.
On due consideration OLR No.42/17 is allowed. Let the necessary amendment in OLR No.38/17 be incorporated before the next date of hearing.
List on 6.8.2018.
(Prakash Shrivastava) Judge Digitally signed by Trilok Singh Savner Date: 2018.07.17 17:09:09 +05'30'