The Official Liquidator Of Avon Corporation Ltd. (In Liquidation) v. Hansa Chandrakant Majithia (Petitioner)

(2)OLR-10-2023.doc rajshree

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

Digitally signed by RAJSHREE KISHOR MORE Date:

2023.07.12 11:36:41 +0530 ORDINARY ORIGINAL CIVIL JURISDICTION RAJSHREE KISHOR MORE OFFICIAL LIQUIDATOR'S REPORT NO.10 OF 2023 IN COMPANY PETITION NO.538 OF 2013 In the matter of Companies Act, I of 1956;

And In the matter of Avon Acorporation Ltd. (In Liquidation) Hansa Chandrakant Majithia ..

Petitioner Mr.Mutahhar Khan for the Official Liquidator. Mr.Anil Bhagure, Assistant Official Liquidator present. CORAM :

BHARATI DANGRE, J DATE :

06th July, 2023.

P.C.

1] The Valuation Report from V.S. Jadon & Co. Valuers LLP is received in sealed envelope. The Valuer has valued the movable assets, being 79 in number and has calculated the value of the same. 2] I have perused the said report and hence in order to carry out, liquidation process, I deem it necessary to fix Earnest Money Deposit (EMD) as Rs.25,000/-. Pursuant thereto, the notice for sale of movable assets (Exhibit I) and Terms and Conditions of the Sale (Exhibit J) are approved.

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(2)OLR-10-2023.doc 3] The Official Liquidator is at liberty to publish approved Sale Notice and Terms and Conditions of Sale, as prayed in prayer clause (c), and also publish advertisement of sale notice of the e-auction in newspapers, as prayed in prayer clause (d).

The amount due and payable to the Valuer is also permitted to be disbursed in terms of Valuation charges from the funds lying with the credit of the Company after deduction of TDS and applicable taxes, in terms of prayer clause (e) and (f).

4] The Sale Notice is approved.

The Valuation Report is directed to be sealed and kept alongwith the record.

The Official Liquidator's Report is made absolute in the aforesaid terms.

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