Single-Judge remand order allowing the Official Liquidator's report to permit handover of possession to a successful bidder in the presence of the shareholder during liquidation proceedings.
Official Liquidator's Report allowed; possession handed over to Mr. Nandlal Agarwal in presence of IARC.
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.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPLICATION NO.75 OF 2019 COMPANY APPLICATION NO.588 OF 2016
WITH
COMPANY APPLICATION (L) NO.232 OF 2019
IN
COMPANY PETITION NO.659 OF 2013
International Asset Reconstruction Company Pvt. Ltd.
)
)….Applicant/Petitioner
V/s.
The Official Liquidator of A.V.Forgings Pvt. Ltd.)....Respondent
WITH
OFFICIAL LIQUIDATOR'S REPORT NO.161 OF 2019
Mr.D.D.Madon, senior Advocate a/w Mr.Rohit Gupta, and Ms.Srushti More I/by M/s.Apex Law Partners for the applicant. Mr.Rajeev R for respondent/ex-directors. [Mr.Suhas Sawant-Dy. OL present].
CORAM : K.R.SHRIRAM,J DATE : 17.7.2019
P.C.:-
OFFICIAL LIQUIDATOR'S REPORT NO.161 OF 2019
KJ
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Company Pvt. Ltd. (IARC) has successfully sold movable and immovable assets and remitted the sale proceeds with the Official Liquidator and therefore, Liquidator is seeking leave to hand over the possession either to IARC or successful bidder Mr.Nandlal Agarwal.
to be handed over to Mr.Nandlal Agarwal in the presence of IARC.
Official Liquidator's Report disposed accordingly.
(K.R.SHRIRAM,J)
KJ
International Asset Reconstruction Company Pvt. Ltd.
The Official Liquidator of A.V.Forgings Pvt. Ltd.
K.R.Shriram
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
