Official Liquidator of Mega Safe Deposit Valuts Pvt. Ltd. (in Liquidation) v. malayasian international trading corporation sdn bhd and Anr. (Petitioner)

Bombay HC9 Aug 2024OLR/86/2024

Case brief

AI extract

What is this about?

Official Liquidator's report seeking leave to break open safe lockers at the company's Thane premises for inventory and valuation ahead of auction. The court directed efforts to obtain locker keys from ex-directors and fresh service on one ex-director, and adjourned to 9 August 2024.

What the court decided

AI extract

Official Liquidator of Mega Safe Deposit Valuts Pvt. Ltd. (in Liquidation) vs malayasian international trading corporation sdn bhd and Anr. (Petitioner) — Bombay HC (2024) — LawSathi Research

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62-OLR-86-2024.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. 86 OF 2024 IN

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COMPANY PETITION NO. 339 OF 2005

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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 MEGA SAFE DEPOSIT VALUTS PVT. LTD. (IN LIQUIDATION).

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MALAYSIAN INTERNATIONAL TRADING CORPORATION & ANR.

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… PETITIONER

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Mr. Ranjeev Carvalho, Advocate for the Official Liquidator. Ms. Nikita Yadav, Assistant Official Liquidator, present in Court.

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CORAM : ABHAY AHUJA, J. DATE : 18^th JULY, 2024

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P.C. :

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This Official Liquidator’s Report seeks the following prayers:

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Digitally signed by GANESH GANESH SUBHASH SUBHASH LOKHANDE LOKHANDE Date: 2024.07.20 19:02:46 +0530

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“a) That in view of para (7) of this report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to break open the Lock of Grill Door and all Safe Lockers lying at shop situated at Brindavan Darshan Co-Operative Housing Society Limited, Brindavan Complex, Building No.31-B, VillageMajivade, Thane with the help of the Authorized person of Godrej & Boyce Mfg. Co. Ltd for the purpose of preparation of inventory of all the Metal Safe

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Ganesh Lokhande, PA 1/3

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62-OLR-86-2024.doc

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Lockers and the items lying inside the said Safe Lockers for valuation.;

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b) If prayer (a) is affirmative, with reference to para (8) whether this Hon'ble Court may be pleased to permit the Official Liquidator to invite fresh quotation from Godrej & Boyce Mfg. Co. Ltd and avail their service to break open the said Safe Lockers and to permit the Official Liquidator to pay the fees of Godrej & Boyce Mfg. Co. Ltd as per their quotation/bill out of funds available to the credit of the Company (In Liqn.).

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c) With reference to Para (9) whether this Hon'ble Court may be pleased to permit the Official Liquidator to appoint a Valuer from the panel of the Official Liquidator for preparation of inventory and carrying out valuation of the Immovable Property & Movable Assets including Metal Safe Locker of Company (In Liqn.) and items lying inside the all Safe Lockers and pay the fees of valuer as per quotation/bill out of funds available to the credit of the Company (In Liqn.).”

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Mr. Carvalho, learned counsel for the Official Liquidator would submit that earlier the Official Liquidator had taken physical possession of Shops No. 1, 2, 3, 4 & 5 situated at Brindavan Darshan Co-Operative Housing Society Limited, Brindavan Complex, Building No.31-B, Village-Majivade, Thane and the safe lockers lying therein on 19^th January 2013.

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Learned counsel submits that now in order to auction the said property, the lockers lying in the said premises would need to be

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Ganesh Lokhande, PA 2/3

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62-OLR-86-2024.doc

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opened and an inventory of the same be taken and the movables would have to be valued. It is submitted that the report has been served upon one of the Ex-Director viz., Shri Ajay Shankarlal Mittal on 8^th July 2024, however with respect to Mr. Sandesh Ravindra Chonkar, the packet has been returned with the remark “addressee moved”.

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Mr. Carvalho would submit that the representative of Godrej & Boyce Mfg. Co. Ltd who have technical expertise in breaking open the said lockers is present in Court.

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Learned counsel however submits that if the keys to the safe lockers are obtained, then it may not be necessary to incur costs for the technical assistance from Godrej & Boyce Mfg. Co. Ltd.

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Having heard the learned counsel, and having considered their submissions, I am of the view that let an endeavour be made to get in touch with Ex-Directors to see if the keys to the safe lockers can be obtained. Let an endeavour also be made to once again serve Shri Sandesh Ravindra Chonkar at any fresh address that may be available in the records of the Official Liquidator or from any other source.

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List the matter on 9^th August 2024.

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(ABHAY AHUJA, J.)

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Ganesh Lokhande, PA 3/3

Official Liquidator of Mega Safe Deposit Valuts Pvt. Ltd. (in Liquidation) v. malayasian international trading corporation sdn bhd and Anr. (Petitioner)

Case brief

What is this about?

What the court decided

Official Liquidator of Mega Safe Deposit Valuts Pvt. Ltd. (in Liquidation) v. malayasian international trading corporation sdn bhd and Anr. (Petitioner)

Case brief

What is this about?

What the court decided

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