Official Liquidator of Various Companies (in Liquidation) v. Na
Case brief
What is this about?
Official Liquidator Report No. 94 of 2025; High Court of Judicature at Bombay; Arif S. Doctor, J.; Companies Act 1956; Various Companies in liquidation; revised valuation report accepted; cars in extremely distressed condition; approval of Sale Notice and Terms and Conditions of Sale (Exhibits E1, E2); upload on Court website, Ministry of Corporate Affairs website and PSB Alliance Private Limited auctioneer website; publication of Sale Notice in Free Press Journal (English) and Navshakti (Marathi), Mumbai and Raigad; advertisement charges from common pool fund, reimbursement, TDS; sale of movable assets (cars) in four lots company-wise through e-auction by PSB Alliance Private Limited; further report for confirmation of highest bidder; report disposed of, sealed and returned to Official Liquidator.
What did the court decide?
The Official Liquidator's Report is allowed in terms of prayer clauses (b), (c) and (d): (i) approval of the Sale Notice and Terms and Conditions of Sale (Exhibits E1 and E2) with permission to upload them on the website of the Court, the Ministry of Corporate Affairs and the website of PSB Alliance Private Limited, the Auctioneer agency; (ii) permission to publish the Sale Notice in Free Press Journal (English) and Navshakti (Marathi), published/circulated in Mumbai and Raigad, through the Panel Advertising agency, with advertisement charges payable from the common pool fund subject to reimbursement from future recoveries and deduction of TDS and applicable taxes; and (iii) permission to sell the movable assets (cars) lying/parked at various locations in Mumbai in four lots (company-wise) through e-auction by PSB Alliance Private Limited, with a further report to the Court for confirmation of the highest bidder. The Report is disposed of, sealed and returned to the Official Liquidator.