Official Liquidator of Raj Tours Pvt. Ltd. (in Liquidation) v. Icici Bank Limited. (Petitioner)
Case brief
What is this about?
Official Liquidator Report; e-auction of moveable asset (bus MH-04G-5157); reserve price fixation Rs.1,25,000; EMD 25%; valuation report by Oza Associates; RailTel Corporation of India Limited e-auction platform; approval of sale notice and terms and conditions; Rules 272 and 273, Companies (Court) Rules, 1959; newspaper publication of sale notice; payment of advertising bill Rs.13,978 subject to TDS; Raj Tours Private Limited (In Liquidation); ICICI Bank Limited; Company Petition No. 549 of 2009; Bombay High Court; winding up; sale of company assets in liquidation.
What did the court decide?
OLR allowed in terms of prayer clauses (a) to (f): reserve price fixed at Rs.1,25,000/- with EMD at 25% for the bus (MH-04G-5157); sale notice and terms and conditions of sale approved; Official Liquidator permitted to attempt sale of the bus by e-auction through M/s. Railtel Corporation Of India Limited, with liberty to apply for further directions if there is no response; sale notice to be published in Free Press Journal, Navshakti, Goan Varta and Navhind Times under Rules 272 and 273 of the Companies (Court) Rules, 1959; advertisement charges and the M/s. Admire Publicity bill of Rs.13,978/- payable from Company funds subject to TDS; valuation report resealed and returned to the Official Liquidator.