Skip to content

The research platform for Indian law — judgements, legislation and the citations between them. Free to search, with the original document behind every result.

A product of LawSathi.

Research

Search Legislation Research tools

Browse

Courts Case types Topics Most-cited judgements Sources

LawSathi

Practice platform Blog

© 2026 LawSathiTerms PrivacyResearch aid, not the official record.

Official Liquidator Vs Poona Tools Pvt. Ltd. — Company and Corporate | Bombay HC (2020)

Home
Bombay HC
2020
Official Liquidator Vs Poona Tools Pvt. Ltd.Official Liquidator v. Poona Tools Pvt. Ltd.

Disposed

Official Liquidator v. Poona Tools Pvt. Ltd.

Bombay HC23 Jan 2020OLR/14/2020

Case brief

from the order text

What is this about?

HIGH COURT OF JUDICATURE AT BOMBAY

What the court decided

AI extract

Outcome

A

10-olr14-20.doc

vai

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

OFFICIAL LIQUIDATOR’S REPORT NO.14 OF 2020 IN

COMPANY PETITION NO.97 OF 2014

In the matter of Companies Act, 1956

And

In the Matter of winding up of Poona Tools Pvt. Ltd. (In Liquidation)

Mr.Mahendhar Aithe, Company Prosecutor for the Official Liquidator present.

Mr.Nitin Kothari for the Bidder – Pranam Enterprises.

Mr.Moinuddin Khan for the Successful Bidder – Ashrafi Steel Corporation.

CORAM : R.D. DHANUKA, J. DATE : 23RD JANUARY, 2020.

Coram

AI extract

R.D. DHANUKA

Case details

As recorded by the court registry

Court: Bombay HC
Decided on: 23 Jan 2020 · January
Registered: 3 Jan 2020
Case no.: OLR/14/2020

Similar cases

Judgements on the same questions, provisions and authorities, from every court

Finding judgements on the same questions…

More from R.d. Dhanuka

Claude D.Murzello and Ors. Vs Brandon John and Ors.
22 Jan 2020
The Commissioner Nashik Municipal Corporation, Nashik Vs Shri.Suresh Sumatilal Shah and Ors.
22 Jan 2020
Smt. Jyoti Pundalik Aher and Ors. Vs United India Insurance Co.Ltd. and Anr.
22 Jan 2020
Official Liquidator Vs Food and Hospitality Concepts India Pvt. Ltd.

Cite this judgement

Official Liquidator v. Poona Tools Pvt. Ltd., OLR/14/2020 (BOM), decided on 23 January 2020.

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

Bench / Coram

R.D. DHANUKA

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.

P.C. :-

Pursuant to the order passed by this Court on 28^th November, 2019, the Official Liquidator published the sale notice dated 12^th December, 2019 in two newspapers inviting bids for sale of the movable assets. This Court has fixed the reserved price and earnest money deposit (EMD) in respect of those movable assets on the basis of the valuation report obtained by the Official Liquidator.

Pursuant to the said notice issued by the Official Liquidator 35 bids have been received by the Official Liquidator. The highest bidder according to the bids received by the Official

1/3

10-olr14-20.doc

Liquidator was in the sum of Rs.2,20,00,000/- submitted by Nitin Steel. The said bidder Nitin Steel is absent in Court today. This Court accordingly gave an opportunity to the other bidders who are present in Court. Ashrafi Steel Corporation who had given an offer of Rs.1,20,00,000/- and Poonam Enterprises had given an offer of Rs.88,00,000/- increased their offer. Auction was conducted in Court. The highest offer is given by Ashrafi Steel Corporation in the sum of Rs.3,70,00,000/-. Poonam Enterprises has not matched the offer of Ashrafi Steel Corporation. The offer of Ashrafi Steel Corporation is accordingly accepted. Sale is accordingly confirmed in favour of Ashrafi Steel Corporation.

Ashrafi Steel Corporation is directed to deposit the differential amount of EMD within five days from today with the Official Liquidator. The balance amount shall be deposited within 30 days from today with the Official Liquidator. It is made clear that if the differential amount of EMD or the balance amount of consideration is not deposited by the successful bidder within the time prescribed above, the amount deposited along with bid towards the EMD to stand forfeited. If the balance amount of consideration amount is not deposited after deposit of the E.M.D., the entire E.M.D. amount would be forfeited.

The Official Liquidator is directed to return the EMD received from the unsuccessful bidders within one week from today. The Official Liquidator’s Report is made absolute in terms of prayer

2/3

10-olr14-20.doc

clauses (a) and (b) and in aforesaid terms.

The Official Liquidator is permitted to take the assistance of the local police on the date of handing over possession of the immovables to the successful bidder. If any such police protection is applied by the Official Liquidator, local police station shall provide such police protection to the Official Liquidator and also to the successful bidder in taking possession of the movables.

(R.D. DHANUKA, J.)

3/3

CNR

HCBM020002822020

Topic

Company and Corporate

Bench

23 Jan 2020

Official Liquidator Vs M/S. Fab Auto Parts Pvt. Ltd.

23 Jan 2020

Capri Global Capital Ltd. Vs Sezal Glass Limited through Official Liquidator of Bombay High Court

23 Jan 2020