Gujarat High Court
Board Of Industrial And Financial ... vs Managing Director M/S Hemi Petro ... on 10 April, 2018
Author: C.L. Soni
Bench: C.L. Soni
C/COMP/98/2010 IA ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
OFFICIAL LIQUDATOR REPORT NO. 1 of 2017
IN
R/COMPANY PETITION NO. 98 of 2010
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OFFICIAL LIQUIDATOR OF HEMI PETRO PRODUCTS LTD. (IN LIQUIDATION) Versus LIQUIDATOR OF ANYONYA SAHAKARI MANDLI CO. OPP. BANK LTD. (IN LIQUIDATION) ========================================================== Appearance:
MR JEET J BHATT for the PETITIONER(s) No. OFFICIAL LIQUIDATOR for the PETITIONER(s) No. NOTICE SERVED for the RESPONDENT(s) No. ========================================================== CORAM: HONOURABLE MR.JUSTICE C.L. SONI Date : 10/04/2018 IA ORDER
1. Present report is filed with following prayers made in para 12 thereof:-
a) This Hon'ble Court may be pleased to permit the Official Liquidator to engage Govt. Approved Valuer out of panel maintained by the Official Liquidator to carry out afresh valuation of the assets and properties of the Company in liquidation.
b) This Hon'ble Court may be pleased permit the Official Liquidator to call the meeting of sale committee after receiving the sealed cover valuation report of assets and properties of the Company in liquidation from the Govt.
Approved Valuer.
c) This Hon'ble Court may be pleased to permit the Official Liquidator to open the sealed cover valuation report received from the valuer in the sale committee meeting to decide the EMD & Upset Price, Edition of News papers, schedule etc., as directed by this Hon'ble Court vide order dated 25.11.2010 passed in Official Liquidator's Report No.118 of 2010 in the matter of M/s. Trueflow Engineering Ltd. (In Liquidation).
d) Such other and further orders and directions as may be considered just and appropriate by this Hon'ble Court may also be passed.
Page 1 of 3C/COMP/98/2010 IA ORDER
2. As stated in the report, pursuant to the order dated 28.3.2016 passed in Official Liquidator's Report No.16 of 2016, an advertisement was published on 11.4.2016 for sale of the properties of the company in liquidation, described as Lot No.I, i.e. Non Agricultural Industrial Freehold Land (N.A.) admeasuring about 29,441 Sq. Mtrs. approximately along with Civil/ Building structure, machineries and other movables (except records) situated at Survey No.258, 287/1 and 287/2, Savli-Poicha Road, Village Poicha (Rania), Taluka Savli, District Baroda and Lot No.II, i.e. Office premises admeasuring about 2130 Sq. Feet (Built-up area) along with Furniture and fixtures and other movables (except records) situated at 102, R.K. Center, 1st Floor, Fatehgunj, Baroda, however no offer was received for the property of Lot No.II. As regards lot No.I property, three offers were received and the Official Liquidator filed Official Liquidator's Report No.29 of 2016 to consider the bid in favour of the highest bidder after inter-se bidding process was over. It is further stated that the intending purchasers withdrew their bids before the Court and therefore, the Court directed for refund of the earnest money after permitting them to withdraw the bids and also permitted the Official Liquidator to initiate the process afresh for sale of the company's properties. With above such facts, the Official Liquidator has asked for the above-quoted prayers.
3. The opponent though served with the notice has not appeared before the Court.
4. The Court, having heard learned advocate Mr. Jeet Bhatt and having considered the contents of the report, finds that since the Official Liquidator is to undertake fresh process for sale of the company's properties, he could be permitted to engage Government approved valuer to carry out the valuation of the properties afresh and to call the meeting of the Sale Committee so as to place before Page 2 of 3 C/COMP/98/2010 IA ORDER it the valuation report in the sealed cover and to open it for its consideration to deliberate for fixation of upset price and EMD and to take further action for the purpose of the sale of the company's properties.
5. In view of the above, the prayers made in para 12 of the report are granted. The report stands disposed of.
(C.L. SONI, J) OMKAR Page 3 of 3