Allowed

The Official Liquidator of Ganage Pressings Pvt. Ltd. (in Liquidation) v. Posco-India Pune Processing Center Private Limited. (Petitioner)

Bombay HC17 Aug 2023OLR/111/2023

Case brief

AI extract

What is this about?

The High Court allowed the Official Liquidator permission to sell three vehicles of Ganage Pressings Pvt. Ltd. by e-auction after fixing an eligibility deposit based on a valuation report.

What did the court decide?

Official Liquidator permitted to sell three vehicles by e-auction; EMD fixed at Rs. 15,000 for Tata Vista, Rs. 15,000 for Honda Civic and Rs. 5,000 for Tata Nano.

The Official Liquidator of Ganage Pressings Pvt. Ltd… — Company and Corporate | Bombay HC (2023)

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(6)OLR-111-2023.doc

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rajshree

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR’S REPORT NO.111 OF 2023

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COMPANY PETITION NO.99 OF 2014

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In the matter of Companies Act, I of 1956;

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And

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In the matter of

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Ganage Pressings Pvt.Ltd. (In Liquidation) POSCO India Pune Processing Centre Pvt. Ltd. .. Petitioner

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Ms.Apurva Thipsay, for Official Liquidator. Mr.Chandan Kumar, Official Liquidator present.

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CORAM : BHARATI DANGRE, J

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DATE : 17^th August, 2023.

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P.C.

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1] At the outset, the learned counsel for the Official Liquidator seek replacement of the document placed at Page 45 of the Official Liquidator’s Report, as inadvertently an incorrect document was annexed.

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Since it is necessary to correct the record, permission is granted. The necessary amendment to be effected forthwith. Reverification is dispensed with.

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2] The Official Liquidator is in possession of three vehicles belonging to the Company and he seek necessary permission to offer

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(6)OLR-111-2023.doc

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the movable assets for sale by e-auction as per inventory of Valuer on “ As is where is and whatever there is” basis.

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3] The Valuation report from V.S.Jadon & Co. Valuers LLP in respect of 3 vehicles Tata Vista, Tata Nano and Honda Civic is received in sealed envelope.

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I have perused the Valuation Report in respect of the the three assets and based upon the same, I deem it appropriate to fix the EMD of these three vehicles as under and permit the Official Liquidator to carry out the sale by reflecting the EMD price.

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i] Tata Vista bearing No.MH 14 DT 9831 – EMD 15,000/ii] Honda Civic bearing No.MH 14 BC 9016 – EMD Rs.15,000/iii] Tata Nano bearing No.MH 12 FU 8668 – EMD Rs.5000/-

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4] In the wake of above, OLR is made absolute in terms of prayer clause (a) to (d) , with a direction to seal and retain the valuation report in the record and proceedings.

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[BHARATI DANGRE, J]

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The Official Liquidator of Ganage Pressings Pvt. Ltd. (in Liquidation) v. Posco-India Pune Processing Center Private Limited. (Petitioner)

Case brief

What is this about?

What did the court decide?

The Official Liquidator of Ganage Pressings Pvt. Ltd. (in Liquidation) v. Posco-India Pune Processing Center Private Limited. (Petitioner)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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