Allowed

Official Liquidator of Pranav Agro Industries Ltd. (in Liquidation) v. M/S.Shakti International Pvtltd. (Petitioner)

Bombay HC8 Aug 2024OLR/98/2024

Case brief

AI extract

What is this about?

The Single Judge allowed the Official Liquidator's Report seeking permission to appoint Kangarlu-based counsel for appearance in Bengaluru and to avail funding from common pool funds with interest.

What did the court decide?

Prayers to appoint Advocate from Karnataka panel and pay professional fees from common pool funds with 9% interest were allowed.

Official Liquidator of Pranav Agro Industries Ltd. (in… — Company and Corporate | Bombay HC (2024)

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Digitally signed by KANCHAN KANCHAN PRASHANT PRASHANT DHURI Date: DHURI 2024.08.08 19:35:24 +0530

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51-OLR-98-2024.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. 98 OF 2024 IN

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CONTEMPT PETITION NO. 256 OF 2023

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In the matter of the Companies Act, I of 1956; And In the matter of Pranav Agro Industries (in liquidation)

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M/s. Shakti International Pvt. Ltd. … Petitioner

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Ms. Apurva Thipsay, Advocate for the Official Liquidator. Mr. Chandan Kumar, Official Liquidator alongwith Ms. Nikita Yadav, Assistant Official Liquidator, present.

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CORAM : ABHAY AHUJA, J. DATE : 8 AUGUST, 2024

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P.C. :

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This Official Liquidator’s Report seeks permission to appoint

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an Advocate from the panel of the Official Liquidator of the High Court of Karnataka. Ms. Thipsay appears for the Official Liquidator and submits that the Advocate sought to be appointed is in respect of the Company in liquidation in Mumbai and therefore, this Court be allowed the prayers as sought for.

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Having heard learned Counsel for the Official Liquidator and having considered her submissions, the Official Liquidator’s Report is

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Kanchan Dhuri 1/2

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51-OLR-98-2024.doc

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allowed in terms of prayer clauses (a) and (b), which read thus :

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(a) In view of the above para (6) of this report, whether this Hon’ble Court would be pleased to allow the Official Liquidator to appoint an advocate from the panel list of Official Liquidator, Bengaluru to act, appear and plead on behalf of the Official Liquidator, Bombay before the Hon’ble High Court of Karnataka at Bengaluru in R.S.A. No.95 of 2015.

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(b) in view of para (7) of this report, whether, this Hon’ble Court would be pleased to permit the Official Liquidator to pay professional fees through invoices as and when raised thereof by the Advocate out of the common pool funds subject to reimbursement of the same with interest @ 9% p.a. from the sale proceeds.

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The Official Liquidator’s Report is accordingly disposed of.

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(ABHAY AHUJA, J.)

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Kanchan Dhuri 2/2

Official Liquidator of Pranav Agro Industries Ltd. (in Liquidation) v. M/S.Shakti International Pvtltd. (Petitioner)

Case brief

What is this about?

What did the court decide?

Official Liquidator of Pranav Agro Industries Ltd. (in Liquidation) v. M/S.Shakti International Pvtltd. (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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