M/S Universal Builders, v. Official Liquidator Of M/S Allwyn Watches Ltd., (In Liqn)

HON'BLE SRI JUSTICE S.V.BHATT COMPANY APPLICATION No.260 OF 2016 IN COMPANY APPLICATION No.1839 OF 2015 IN COMPANY APPLICATION Nos. 1196 OF 2014 & 1115 OF 2015 IN COMPANY PETITION No.108 OF 2001 ORDER:

On 13.07.2015, this Court disposed of Company Application Nos.1196 of 2014 and 1115 of 2015 as follows: " In the above facts and circumstances of the case, the highest bidder is directed to remove the Plant & Machinery and current assets from the subject premises within five months from today. It is made clear that no further extension of time will be granted under any circumstances."

The present application is filed seeking extension of time up to 30th April, 2016 to remove the plant and machinery and current assets from the subject premises of the company in liquidation in terms of order dated 29.12.2015.

At the request of learned counsel appearing for the parties, the application was adjourned from 08.03.2016 till date. The applicant places on record the undertaking dated 09.03.2016 of the Managing Partner and Partner of applicant company and also additional affidavit dated 30.03.2016 to contend that the applicant is prepared to remove and relocate Plant & Machinery and current assets on or before 30th April,2016 and in the event of not removing and shifting the assets, the applicant is prepared to forego its right on the assets referred to above and this Court can pass appropriate orders on the assets so left behind by applicant. The statement is accepted.

Having regard to the progress shown from 08.03.2016 till date, the application is ordered subject to above condition and the time granted in Company Application No.1839 of 2015 is extended till

30.04.2016.

_____________ S.V.BHATT,J Date:31.03.2016 Stp