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Official Liquidator of Patheja Forgings and Auto Parts Manugacturers Ltd.(in Liquidation) v. B.I.F.R

Bombay HC19 Apr 2024OLR/47/2024

Case brief

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What is this about?

Official Liquidator sought court directions to confirm a sale of company property to the highest bidder and permit handover of possession within 30 days. The court confirmed the sale and ordered possession transfer per petitioner's prayer.

What did the court decide?

Sale of immovable property to Jasmine Fazal Memon confirmed; Official Liquidator permitted to handover possession within 30 days of payment.

Official Liquidator of Patheja Forgings and Auto Parts… — Company and Corporate | Bombay HC (2024)

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2.OLR-47--2024.doc

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

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OFFICIAL LIQUIDATOR’S REPORT NO. 47 OF 2024

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IN

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COMPANY PETITION NO. 108 OF 2008
IN

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BIFR CASE NO. 292 OF 1998

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In the matter of Patheja Forgings And Auto
Parts Manufacturers Ltd. (In Liquidation)

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…Petitioner

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B.I.F.R.

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Ms. Akanksha Agarwal, Advocate for Official Liquidator.

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Mr. Rajender Kumar, Official Liquidator (I/c).

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ARUNA SANDEEP TALWALKAR

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Digitally signed by ARUNA SANDEEP TALWALKAR Date: 2024.04.22 11:08:13 +0530

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P.C.:

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CORAM : MANISH PITALE, J.
DATE :19th APRIL, 2024

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. Heard the learned Counsel for the Official Liquidator.

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2.By this Official Liquidator’s Report(OLR), the Official Liquidator is
seeking directions in terms of prayer clauses (a) and (b) which read as
follows :

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(a)In view of paragraph (7) supra, whether this Hon’ble
Court may be pleased to confirm the sale in favour of highest bid
of Rs. 78,00,000/- (Rupees Seventy Eight Lakhs Only) of
Jasmine Fazal Memon in respect of the immovable property i.e.
Plot No. 4, Survey No. 410/02 situated at Village Indrad, Taluka

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Talwalkar

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1/2

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2.OLR-47--2024.doc

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Kadi, District Mehsana, Gujrat-382715;

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(b)In view of paragraph (8) supra, if the sale is confirmed in
favour of Jasmine Fazal Memon, whether this Hon’ble Court
may be pleased to permit the Official Liquidator to handover the
possession of the immovable property i.e. Plot No. 4, Survey No.
410/02 situated at Village Indrad, Taluka Kadi, District
Mehsana, Gujrat 382715 to Jasmine Fazal Memon within 30
days from the date of payment as prescribed in terms and
condition, as approved by this Hon’ble Court vide order dated
19.01.2024 in OLR No. 184 of 2023.

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3.In support of the aforesaid prayers, the learned Counsel invited
attention of this Court to Exh. B with the OLR being summary which shows
that E-Auction was conducted on 7/3/2024 wherein 25 bidders participated
and there were 39 rounds of bidding whereupon highest bid was offered by
Jasmine Fazal Memon in respect of the immovable property of the Company
in liquidation at Mehsana, Gujrat. By order dated 19th January, 2024 this
Court fixed reserve price at Rs. 15 Lakhs. This Court perused the valuation
report.

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4.This Court is satisfied that the sale can be confirmed in favour of the
highest bidder.

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5.Accordingly, the OLR is allowed in terms of prayer clauses (a) and (b).
Valuation report be put back in sealed cover.

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 (MANISH PITALE, J.)

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Talwalkar

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Official Liquidator of Patheja Forgings and Auto Parts Manugacturers Ltd.(in Liquidation) v. B.I.F.R

Case brief

What is this about?

What did the court decide?

Official Liquidator of Patheja Forgings and Auto Parts Manugacturers Ltd.(in Liquidation) v. B.I.F.R

Case brief

What is this about?

What did the court decide?

What the court decided

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