Official Liquidator of Glodyne Technoserve Ltd. (in… — Company and Corporate | Bombay HC (2025)

Official Liquidator of Glodyne Technoserve Ltd. (in… — Company and Corporate | Bombay HC (2025)

What the court decided

AI extract

Outcome

Official Liquidator's Report allowed in terms of prayer clauses (a) and (b): (a) permission to pay total outstanding advertising charges of Rs.43,243/- to Admire Publicity Pvt. Ltd. from the fund of the Company (In Liqn.), subject to deduction of TDS at prevailing rates and applicable taxes; (b) permission to invite offers for the vehicle TOYOTO INNOVA-2.5V (Registration No. MH-14-BC-7674) from second-hand vehicle dealers by issuing individual notices to usual dealers instead of publication of sale notice, with offers received to be placed before the Court by filing a report for confirmation of sale.

Issue for consideration

Prayer clause (a): whether to permit the Official Liquidator to pay the total outstanding advertising charges of Rs.43,243/- to Admire Publicity Pvt. Ltd. from the funds of the Company (In Liqn.), subject to deduction of TDS at prevailing rates and applicable taxes. +1 more

Court's answer

The OLR was allowed in terms of prayer clauses (a) and (b) as quoted in the judgment.

Ratio / Principle

Having perused the contents of the OLR, the Court was satisfied that the directions sought in prayer clauses (a) and (b) could be granted.

Key takeaways

Because the vehicle in question is a model of the year 2011, the direction sought in prayer clause (b) — inviting offers from second-hand dealers by individual notice instead of publication of sale notice — deserved to be granted in the interest of justice.ratio¶24

Detailed headnote1 paragraphs

Bombay High Court (Original Side), per Manish Pitale, J., by order dated 29 April 2025 allowed Official Liquidator’s Report No. 27 of 2025 in Company Petition No. 179 of 2013 (Glodyne Technoserve Ltd., in liquidation). The Court permitted the Official Liquidator (i) to pay the total outstanding advertising charges of Rs.43,243/- to Admire Publicity Pvt. Ltd. out of the funds of the Company (In Liqn.), subject to deduction of TDS at prevailing rates and applicable taxes, and (ii) to invite offers for the vehicle TOYOTO INNOVA-2.5V (Registration No. MH-14-BC-7674) from second-hand vehicle dealers by issuing individual notices to usual dealers instead of publication of sale notice, the offers so received to be placed before the Court by filing a report for confirmation of sale. The direction on mode of sale was granted considering that the vehicle is a model of the year 2011 and in the interest of justice.

bipin prithiani

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911-olr-27.25.doc

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

OFFICIAL LIQUIDATOR’S REPORT NO. 27 OF 2025 IN

COMPANY PETITION NO. 179 OF 2013

In the matter of The Companies Act, I of 1956;

AND

In the matter of Glodyne Technoserve Ltd. (in liqn.)

L and T Finance Ltd. … Petitioner

Mr. Rushabh Sheth for Official Liquidator. Mr. Satyajit Roul, Official Liquidator.

CORAM: MANISH PITALE, J. DATE : 29^th APRIL 2025

P.C. :

. The learned counsel appearing for the official liquidator invited attention of this Court to the directions sought in prayer clauses (a) and (b) of the present Official Liquidator’s Report (OLR). The said prayer clauses are as follows :

“a) In view of para 38 of this report, whether this Hon’ble Court would be pleased to permit the Official Liquidator to pay the total outstanding advertising charges of Rs.43,243/- to Admire Publicity Pvt. Ltd. from and out of the fund available to the credit of the Company (In Liqn.) subject to deduction of TDS at prevailing rates and applicable taxes;

b) In view of para 41 of this report, whether this Hon’ble Court would be pleased to permit the Official Liquidator to

bipin prithiani

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911-olr-27.25.doc

invite the offers for TOYOTO INNOVA-2.5V Registration No.MH-14-BC-7674, from second hand vehicle dealers by issuing individual notice to the usual dealers instead of publication of sale notice. The Official Liquidator may also be permitted to put the offers received before this Hon’ble Court by filing report for confirmation of sale.”

With the assistance of the learned counsel appearing for the official liquidator, this Court has perused the contents of the OLR. Having perused the same, this Court is satisfied that the directions sought in prayer clauses (a) and (b) can be granted.

Considering the fact that the vehicle in question is a model of the year 2011, the specific direction sought in prayer clause (b) deserves to be granted in the interest of justice.

Hence, the OLR is allowed in terms of prayer clauses (a) and

(b), quoted hereinabove.

MANISH PITALE, J.

BIPINDHARMENDERPRITHIANI Digitally signed byBIPIN DHARMENDERPRITHIANIDate: 2025.04.2917:29:57 +0530