Disposed

Official Liquidator of Ushma Jewellery and Packaging Exports Pvt. Ltd. (in Liquidation) v. State Trading Corporation of India Limited (Petitioner)

Bombay HC21 Nov 2024OLR/119/2024

Case brief

AI extract

What is this about?

The single-judge High Court disposed of an Official Liquidator's Report under Company Petition No. 311 of 2011, directing the successful auction purchaser to file an undertaking for payment of Rs. 70,000 by 26th November 2024 or face cancellation of the sale.

What did the court decide?

Directed the auction purchaser to file an undertaking for payment of Rs.70,000 by 26th November 2024; auction sale to be cancelled if payment is not made; disposed the Official Liquidator's Report.

Official Liquidator of Ushma Jewellery and Packaging… — Company and Corporate | Bombay HC (2024)

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40-OLR-119-2024.doc

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Digitally signed by KANCHAN KANCHANPRASHANTDHURI PRASHANTDHURIDate:2024.11.21 18:38:27 +0530

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR’S REPORT NO. 119 OF 2024

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COMPANY PETITION NO. 311 OF 2011

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In the matter of the Companies Act, I of 1956

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And

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In the matter of Ushma Jewellery and Packaging Exports Pvt. Ltd. (In Liquidation)

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State Trading Corporation of India Limited … Petitioner

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Mr. Kunal Lunawat alongwith Mr. Ravi Ruparelia instructed by Jain Law Partners, Advocate for the Auction Purchser.

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Mr. Ranjeev Carvalho, Advocate for the Official Liquidator.

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Mr. Chandan Kumar, Official Liquidator and Mr. Chetan Shelke, Assistant Official Liquidator, present in Court.

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CORAM : ABHAY AHUJA, J. DATE : 21 NOVEMBER 2024

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P.C. :

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Mr. Lunawat, learned Counsel appears for the successful

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auction purchaser and submits that his client has filed an Interim Application, which is not on board and seeks some more time to make the payment. Mr. Lunawat submits that his client is unwell and therefore, unable to make payment and that his client will make

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payment of Rs.70,000/- on 26^th November 2024 and that his client is willing to furnish an undertaking in this regard.

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Kanchan Dhuri 1/2

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40-OLR-119-2024.doc

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Mr. Carvalho, learned Counsel appears for the Official Liquidator and submits that if that be the case, then this Court may consider the alternative prayer in prayer clause (a) of the Official Liquidator’s Report to grant further time to deposit the sales consideration with the Office of the Official Liquidator.

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Since the Interim Application is not on board and the copy that is sought to be tendered is unnumbered, this Court does not deem it appropriate to deal with the Interim Application. However, on the basis of the statement made by Mr. Lunawat that the Auction Purchaser is willing to file an undertaking that he will make payment of Rs.70,000/- on 26^th November 2024, this Court is disposing of the Official Liquidator’s Report.

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Let an undertaking be furnished to this Court before the close of Court hours that payment of Rs.70,000/- would be made to the Official Liquidator by 26^th November 2024 and if the payment is not made by 26^th November 2024 into the Official Liquidator’s account, the auction sale to stand cancelled.

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The Official Liquidator’s Report accordingly stands disposed.

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(ABHAY AHUJA, J.)

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Kanchan Dhuri 2/2

Official Liquidator of Ushma Jewellery and Packaging Exports Pvt. Ltd. (in Liquidation) v. State Trading Corporation of India Limited (Petitioner)

Case brief

What is this about?

What did the court decide?

Official Liquidator of Ushma Jewellery and Packaging Exports Pvt. Ltd. (in Liquidation) v. State Trading Corporation of India Limited (Petitioner)

Case brief

What is this about?

What did the court decide?

What the court decided

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