Official Liquidator of Shree Venkatesh Steels Ltd. (in Liquidation) v. the Board for Industrial and Financial Reconstruction, (Petitioner)
Case brief
What is this about?
Shree Venkatesh Steels Ltd. (in liquidation); Board for Industrial and Financial Reconstruction; Official Liquidator Report 33/2025 in Company Petition 575/2014; High Court of Bombay; Sharmila U. Deshmukh J.; decided 08-08-2025; reserve price Rs. 1,30,00,000; EMD 25%; approval of sale notice and terms and conditions of sale; publication in Free Press Journal and Navshakti; e-auction through M/s. Railtel Corporation of India Limited; security charges payment of Rs. 61,65,133 to Devendra Worldwide (OPC) Private Limited for March 2024-March 2025; movables at Village Kharsundi, Taluka Khalapur, District Raigad; panel valuer Mangesh Ketker; sealed valuation report resealed.
What did the court decide?
Office Liquidator's Report allowed in terms of prayer clauses (a) to (e): reserve price fixed at Rs.1,30,00,000 with EMD at 25%; sale notice and terms and conditions of sale approved; publication permitted in Free Press Journal (English) and Navshakti (Marathi); e-auction of the movables in one lot through M/s. Railtel Corporation of India Limited permitted; payment of Rs.61,65,133/- to Devendra Worldwide (OPC) Private Limited towards security charges permitted; valuation report resealed and returned to counsel for the Official Liquidator.