Insolvency proceedings against a debtor. The court permitted the Official Assignee to sell the insolvent's jointly owned flat, appointed a panel valuer for valuation within 12 weeks, directed the secured creditor to hand over title deeds, and disposed of the report and notice of motion.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN ITS INSOLVENCY JURISDICTION
NOTICE OF MOTION (L) NO. 31506 OF 2023 IN
INSOLVENCY PETITION NO. 10 OF 2023
SMFG India Home Finance Co. Ltd. ...Applicant In the matter between Naresh Manekchand Agarwal and Anr. ...Petitioning Creditor V/s. Rahul Vipanchander Aggarwal ...Debtor
WITH
OFFICIAL ASSIGNEE’S REPORT NO. 6 OF 2024 AND
NOTICE OF MOTION (L) NO. 14696 OF 2024
Mr. Deshmukh (through VC) with Ms.Bijal Gogri i/b O. M. Gujar Law Chambers for Intervenor.
Mr. Sumin Khanna i/b Dewani Associates for the Insolvent. Ms. C. J. Bhatt, Official Assignee with Mr. Subodh Patil, Dy. Official Assignee present.
Ms. M. R. Parkar, Insolvency Registrar present.
Mr. Rahul Aggarwal, Insolvent in person present.
Digitally signed by NIKITA NIKITA YOGESH YOGESH GADGIL GADGIL Date: 2024.08.23 11:28:04 +0530
CORAM : ABHAY AHUJA, J. DATE : 20th AUGUST, 2024
P.C. :
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did not materialise and therefore, the process of re-acution had to be undertaken, and the auction is now scheduled on 29th August, 2024.
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“(a) the Official Assignee may be permitted to sell the said Flat Premises No. 801, standing in the name of the Insolvent abovenamed jointly with his wife Sunita Rahul Aggarwal, situated at B-Wing, Jay Jardin, Off Ghatla Village Road, Near Ratna Star Village Borla, Chembur, Mumbai – 400 071 by public auction or private treaty to recover 50% share of the Insolvent for the benefit of general Creditors fo the Insolvent.
(b) if the prayer (a) is in affirmative, the Official Assignee may be permitted to appoint valuer from the panel of the Office of the Prothonotary and Senior Master for valuation of the said Flat Premises No. 801 and valuation charges may be recovered from the Petitioning Creditor.
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(c) If the prayer (a) & (b) is in affirmative, the Official Assignee may be permitted to pay balance 50% sale proceeds amount of Sunita Rahul Aggarwal, being wife of the Insolvent, the Joint Owner of the said Flat Premises No. 801.”
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SMFG India Home Finance Co. Ltd.
Naresh Manekchand Agarwal and Anr.
Rahul Vipanchander Aggarwal
Abhay Ahuja
As recorded by the court registry
3 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
