Madhya Pradesh High Court
In The Metter Of M/S M.P.Petrochem Ltd. vs - on 5 January, 2023
Author: Subodh Abhyankar
Bench: Subodh Abhyankar
1
IN THE HIGH COURT OF MADHYA PRADESH
AT INDORE
COMP No. 4 of 2011
(IN THE METTER OF M/S M.P.PETROCHEM LTD. Vs -)
Dated : 05-01-2023
Shri Gaurav Chhabra, learned counsel for Secured Creditor.
Shri H.Y. Mehta, learned counsel for the Official Liquidator.
I.A.No. 1081/2022 is an urgent hearing application of the present
Company Petition and the same stands disposed of.
The Official Liquidator seeks permission of this Court to withdraw
O.L.R.No.28/2022.
Prayer is allowed.
Accordingly, O.L.R. No.28/2022 stands dismissed as withdrawn.
Heard on O.L.R. No.29/2022 wherein, the following reliefs have been
sought by the Official Liquidator :-
"i) The report of the Official Liquidator may kindly be taken on record.
ii) In view of submissions at Para 5 & 6 above, the Official Liquidator
may kindly be permitted to proceed for fresh e-auction of assets/properties i.e.
Lot No.2 (Office Premises at Muley Tower, M.G. Road, Indore) through M/s
e-procurement Technologies Ltd., Ahmedabad, as per the general terms and
conditions of e-auction dated 02/04/2016 read with 08/1/2018, with suggested
reserve price and EMD as decided in the Assets Sale Committee meeting dated
16/11/2022.
iii) In view of submissions at Para 7 above, necessary permission may
kindly be granted for publication of e-auction Sale Notice by inviting e-tenders
in two newspapers (one is in English Daily and other one is in Hindi Daily) i.e.
1.Economic Times (English)- :- All India Edition Signature Not Verified Signed by: MONI RAJU Signing time: 1/5/2023 6:21:26 PM 2
2. Dainik Bhaskar (Hindi)- :- M.P. Editions Permission may also be granted to release the advertisement expenses of sale. Notice to the advertising agency and fees for online auction to M/s. e-Procurement Technologies ltd. Ahmedabad, in respect of fresh e-Auction of the fund available in the account of the company (In-Liqn.). And, Such other order(s) as this Hon'™ble Court deem fit and proper may kindly be passed in the circumstances of the case."
Since the prayer is not objected by the counsel appearing by the Kotak Mahindra Bank Ltd. and there is no other objection filed by any parties, O.L.R. No. 29/2022 is hereby allowed in terms of the prayer sought by the Official Liquidator.
The Official Liquidator is directed to file its report within the next date of hearing.
Let the matter be listed on 23.1.2023.
Certified copy, as per rules.
(SUBODH ABHYANKAR) JUDGE moni Signature Not Verified Signed by: MONI RAJU Signing time: 1/5/2023 6:21:26 PM