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Bank of India Vs J.K.Pharmachem Ltd. — Bombay HC (2007) — LawSathi Research

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Bombay HC
2007
Bank of India Vs J.K.Pharmachem Ltd.Bank of India v. J.K.Pharmachem Ltd.

Disposed

Bank of India v. J.K.Pharmachem Ltd.

Bombay HC20 Sept 2007NMS/2016/2005

Case brief

from the order text

What is this about?

COURT OF JUDICATURE AT BOMBAY ORDINARY…

What the court decided

AI extract

Outcome

A

AJN

1

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.2016 OF 2005 IN

SUIT NO.3409 OF 2002

Bank of India ... Plaintiffs

Vs.

The Official Liquidator of Madras High Court.

... Defendants

Ms. Mamta Sadh i/b M/s. V. Deshpande & Co. for the plaintiffs.

Mr. H.N. Thakore i/b Thakore Jariwala & Associates for respondent 1.

CORAM : SMT. RANJANA DESAI, J.

DATED : SEPTEMBER 20, 2007.

P.C.:-

Parties & counsel

AI extract

petitioner
Bank of India
respondent
The Official Liquidator of Madras High Court

Coram

AI extract

Ranjan Desai

Case details

As recorded by the court registry

Court: Bombay HC
Decided on: 20 Sept 2007 · September
Registered: 15 Jul 2005
Case no.: NMS/2016/2005

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Cite this judgement

Bank of India v. J.K.Pharmachem Ltd., NMS/2016/2005 (BOM), decided on 20 September 2007.

The Bombay High Court publishes no neutral citation for this judgement — cite it by case number and date of decision.

Bench / Coram

Ranjan Desai

Parties & counsel

Disposed

A compact analysis

This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.

On 8/8/2005, Justice S.C. Dharmadhikari passed ad-interim

order in terms of prayer clause (a) except the bracketed portion.

Paragraph 2 of the said order reads thus:

“2. In my view, considering that the suit is filed for protecting rights of the debenture holders and the plaintiffs are suing in their capacity as Trustees on their behalf, it is desirable that the property, market

AJN

2

value of which, on the own showing of first defendant, is Rs.70 to 80 crores is disposed of by the Court Receiver, High Court, Bombay after inviting, bids vide public advertisement / notice. Accordingly, ad-interim order in terms of prayer clause (a) except bracketed portion. Court Receiver to dispose of the property by public auction in the first instance.”

The Court Receiver had submitted his report dated 27/8/2007

to the court on 6/9/2007. Paragraph 17(a) of the said report reads

thus :

“17(a) Whether the Court Receiver should proceed in terms of Order dated 8^th August, 2005 passed by this Hon'ble Court in the suit herein and conclude sale of properties in accordance with the procedure of Court Receiver.”

3. On 6/9/2007, Justice S.J. Vazifdar passed the following

order :

“1. The Court Receiver's Report is answered in the affirmative in terms of paragraph 17(a).

2. The costs of the Court Receiver are fixed at Rs.1000/-.”

AJN

3

In view of this, no further orders are necessary in this notice of motion inasmuch as by order dated 6/9/2007, ad-interim order dated 8/8/2005 passed by Justice S.C. Dharmadhikari is confirmed. Needless to say that defendant 1 (Official Liquidator) can make submissions before the Court Receiver as regards who should be the valuer. Notice of Motion is disposed of.

[SMT. RANJANA DESAI, J.]

CNR

HCBM020137192005

Bench

Disposal

DISPOSED OFF

20 Sept 2007

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