Tata Motors Finance Limited v. Nallapaneni Nageshwara Rao And ANR.

905-CRR9-17.DOC ATUL

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO. 9 OF 2017 IN ARBITRATION PETITION NO. 1363 OF 2014 Tata Motors Finance Ltd

...Petitioner

Versus

Nallapaneni Nageshwara Rao & Anr

...Respondents

Mr. Vishal Kanade, with Mr Dhruv Joshi, i/b Wadia Ghandy & Co., for the Petitioner Mr Anant Vadgaonkar, for Mr. K.M. Prajay, the bidder. Mr Prashant D Patil, for Respondent No. 1.

Mrs KY Ambekar, IInd Assistant to the Court Receiver, is present.

Mr Ashish Dubey, for Mr Mohd Taqiuddin.

CORAM: G.S. PATEL, J DATED:

18th January 2017 PC:- 1.

There were five vehicles that were to be put to sale by the Court Receiver under an order dated 25th November 2016. Mr Mohd Taquiddin made an offer of Rs. 4,50,000/- as his final offer for four of these five vehicles, the details of which are set out in the annexure to the Court Receiver's Report. There is no competing bid.

2.

The sale in favour of Mr Mohd Taquiddin is confirmed for the four vehicles at Rs. 4,50,000/- each.

18th January 2017

905-CRR9-17.DOC 3.

The Report is made absolute in terms of prayer clause (a). 4.

The demand drafts given by other bidders are to be returned to them.

5.

The Court Receiver will unseal the Valuation Reports. The Petitioner will pay the valuer's fees.

6.

The present report is disposed of.

(G. S. PATEL, J.) 18th January 2017