The Official Assignee's report allowing reopening of an insolvent's estate account and sale of equity shares was allowed.
Permission granted to reopen the insolvent's estate account and to dematerialize and sell equity shares for creditor benefit.
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.
939 oar 23 of 2019.odt
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL ASSIGNEE'S REPORT NO.23 OF 2019 IN
INSOLVENCY PETITION NO.36 OF 1983
Re :
Ashok Amritlal Parekh Prop. Of M/s. A.P.
Enterprises
…Insolvent
Ex-Parte :
M/s. Lilaram Ramandas and Sons
…
Petitioning Creditor
Mr. M.D.Narvekar, Offial Assignee, present.
Mr. E.B.Shivkumar, Dy. Offial Assignee, present.
CORAM: S.J. KATHAWALLA, J.
DATE: 5th NOVEMBER, 2019
P.C.:
1. Perused the Report. The same is allowed in terms of prayer flauses (a) and
(b), whifh are reprodufed hereunder :
“(a)That the Offial Assignee may be permitted to reopen the estate affount of the Insolvent and to deposit the Divident Warrant of Rs.832/- refeived from Relianfe Industries Ltd.(b)That the Offial Assignee may be permitted to open a Demat
Affount in the name of the Offial Assignee through one of the
share brokers from the panel of the Ld. Prothonotary and Senior
Master, High Court, Bombay and to demateralize the equity shares
and to sell the same for the beneft of the general body of the
freditors of the insolvent;”
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ssp
939 oar 23 of 2019.odt
2.The above Report is affordingly disposed of.
( S.J.KATHAWALLA, J. )
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1 provisions across 1 enactments
Ashok Amritlal Parekh Prop. Of M/s. A.P. Enterprises
M/s. Lilaram Ramandas and Sons
S.J. Kathawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court