M/S, Vanastali Hills Real Estates Pvt. Ltd.. (In Liqn) v. -

THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM COMPANY APPLICATION No. 593 OF 2017 IN COMPANY PETITON No. 82 OF 2014 O R D E R:

This Application has been taken out by the Official Liquidator under Section 457(1) of the Companies Act, 1956 read with Rules 272 and 273 of the Companies (Court) Rules, 1959 seeking the following relief:

i.

permit the Official Liquidator to sell the furniture items available at Registered Office premises situated at Flat No. 210, My Home Laxmi Nivas, Ameerpet, Hyderabad by distribution of handbills / pamphlets;

ii.

permit the Official Liquidator to fix the Minimum upset price for an amount of Rs.36,200/- valued by officials of Official Liquidator and permit to fix the EMD an amount of Rs.4,000/- and Rs.200/- (non-refundable) towards cost of terms and conditions and tender form;

iii.

approve the draft sale notice, terms & conditions and tender form are enclosed herewith and marked as Annexure -B,C & D;

iv.

permit the Official Liquidator to accept / confirm the sale if the offer is received above minimum upset price and to deliver possession of the items to the successful bidder on receipt of the entire sale consideration; and v.

order that the cost of this application do come out of the assets of the company.

Considering the value and the nature of the items that are required to be sold being the small, no useful purpose would be served by advertising in newspapers spending huge money. In those circumstances, as suggested by the Official Liquidator, the advertisement be made about the auction through hand bills and pamphlets.

Accordingly, the Company Application is allowed. ____________________________ CHALLA KODANDA RAM, J 06th July 2017 ksld