The Official Liquidator Of M/S. Fiona Consumer Products v. Canara Bank,

HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY APPLICATION No.1182 of 2015 In Company Petition No.126 of 2014 Date:14.9.2015 Between:

The Official Liquidator of M/s Fiona Consumer Products Pvt Ltd., Formerly known as Sri Raaga Techno Marketing Private Ltd (in liqn) ..... Applicant And:

Canara Bank, Secunderabad, Reptd by its Assistant General Manager and another.

.....Respondents Counsel for the Applicant: Mr. M.Anil Kumar Counsel for Respondent No.1: Mr. Deepak Bhattacharjee The Court made the following:

ORDER:

This Company Application is filed for a direction to the respondents to appoint a Valuer to enable the Official Liquidator to initiate sale process for sale of the assets of M/s Fiona Consumer Products Private Limited (in liquidation).

Mr. Deepak Bhattacharjee, learned counsel for respondent No.1, submitted that his client has already initiated the proceedings under the Securitization and

Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for sale of the assets of the company (in liquidation) and that therefore, it is not necessary for the Official Liquidator to get the value of the assets of the said company fixed.

In the light of the above submission of the learned counsel, this Company Application is disposed of as infructuous, however, with the direction to respondent No.1 to involve the Official Liquidator in the sale process and deposit the sale proceeds before the Official Liquidator for distribution.

____________________________ JUSTICE C.V.NAGARJUNA REDDY 14th September, 2015 DR