Allowed

M/S. Svadeshi Enterprises (Hubli) v. the Official Liquidator, High Court, Bombay

Bombay HC16 Jul 2013CA/299/2013

Case brief

AI extract

What is this about?

Company Application seeking modification of an order dated 20 December 2007. The Court allowed the applicant to execute sale deed in favour of nominees/buyers, subject to depositing arrears of Rs. 15.50 lacs with the Official Liquidator.

What did the court decide?

Order dated 20 December 2007 modified to permit execution of sale deed in favour of nominees/buyers upon deposit of Rs. 15.50 lacs arrears.

M/S. Svadeshi Enterprises (Hubli) Vs the Official… — Company and Corporate | Bombay HC (2013)

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11CA299-13CA1227CP385-02.doc

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JP CHAVAN

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY APPLICATION NO. 299 OF 2013 IN COMPANY APPLICATION NO. 1227 OF 2007 IN COMPANY PETITION NO. 385 OF 2002

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M/s Svadeshi Enterprises (Hubli) ... Applicant In the matter of: M/s Associated Engineers ... Petitioner Vs. M/s Swadeshi Mills Co. Ltd. ... Respondent

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Mr. Atul G. Damle for the Applicant

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Ms. Rupa Sutar, Assistant Official Liquidator present.

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CORAM : N. M. JAMDAR, J. DATE : 16 JULY 2013

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P.C.

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By this application, the applicant seeks to modify the order dated 20 December 2007 to the effect that the applicant be allowed to execute conveyance/sale deed in favour of their nominees/buyers.

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By order dated 20 December 2007, considering the fact that the applicant had paid substantial amount prior to the liquidation, this court had allowed the application filed by the applicant bearing Company Application No. 1227 of 2007. The Court had directed that the balance amount of consideration be deposited by the applicant and upon the amount was so deposited, the sale deed/conveyance be executed in favour of the applicant. It was made clear that apart from the balance amount the

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11CA299-13CA1227CP385-02.doc

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applicant will pay stamp duty, taxes and other charges.

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The Official Liquidator states that the Official liquidator has no objection for the applicant being permitted to execute the sale deed/conveyance in favour of their nominees/buyers, however, the applicant must deposit the arrears which, by reading of the order dated 20 December 2007, are to the tune of Rs.15.50 lacs. The learned counsel for the applicant states that the said amount will be deposited.

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Upon the amount so deposited by the applicant, the order passed on 20 December 2007 will stand modified only to the extend that- the applicant is permitted to execute conveyance/sale deed in favour of the of their nominees or buyers.

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The Company Application stands disposed of in the above terms.

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(N. M. JAMDAR, J.)

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M/S. Svadeshi Enterprises (Hubli) v. the Official Liquidator, High Court, Bombay

Case brief

What is this about?

What did the court decide?

M/S. Svadeshi Enterprises (Hubli) v. the Official Liquidator, High Court, Bombay

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

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