Official Liquidator of Global Sms Networks Pvt. Ltd.(in Liquidation) v. M/S Lledia Networks Serveis Telematics S.A. (Petitioner)
Case brief
What is this about?
Bombay HC, OLR 122/2024 in CP 311/2014, Global SMS Networks Pvt. Ltd. (In Liqn.), Manish Pitale J., 02-01-2025. Ratification of Official Liquidator's substitution of valuer: V. S. Jadon & Co. Valuer LLP appointed in place of M/s. Accurate Valuers and Engineering Services (order dated 10.06.2016) for inventory and valuation of movable assets; permission to pay valuation fees of Rs. 29,900/- from company (in liquidation) funds subject to TDS/GST deduction. Companies Act, 1956; winding-up administration; valuer appointment and remuneration.
What did the court decide?
OLR allowed in terms of prayer clauses (a) and (b): ratification of the Official Liquidator's appointment of V. S. Jadon & Co. Valuer LLP as valuer in place of M/s. Accurate Valuers and Engineering Services, and permission to pay the valuer's fees of Rs. 29,900/- from the funds of the company (in liquidation), subject to deduction of TDS/GST.