Official Liquidator v. Micro Technologies (India)Limited

Digitally signed by Meera M.

Jadhav Date:

2021.02.17 18:50:05 +0530 1/2 5.olr-49-20.doc Meera M.

Jadhav

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO.49 OF 2020 IN COMPANY PETITION NO.602 OF 2013 AND COMPANY PETITION NO.190 OF 2013 In the matter of Companies Act And In the matter of Micro Technologies (India) Ltd. (In liquidation) Canara Bank ..Petitioner Mr. Mahendhar Aithe, Company Prosecutor;

CORAM : K.R.SHRIRAM, J.

DATED : 16th FEBRUARY 2021 P.C. :

Pursuant to the public advertisement given by the Official Liquidator, Official Liquidator received only one offer from one Nupur Irpanwar. By her letter dated 7th February 2020, Nupur Irpanwar has offered Rs.15 lakhs for the immovable property being, commercial unit no.307, 3rd floor, Vashi Infotech Park, Plot No.16, Road No.5, Sector 30-A, Vashi (IIP) Navi Mumbai - 400703. The offer received is way below the price indicated by the valuer. Therefore, the offer has to be rejected and is hereby rejected. Mr. Aithe states that the valuation report is of October 2019, though not dated, because the Official Liquidator received it on 1st November 2019 and the offer from Nupur Irpanwar was received in February 2020. Mr. Meera Jadhav

2/2 5.olr-49-20.doc Aithe states that even the demand draft of Rs.7 lakhs given is dated 6th February 2020 and is not valid any more. The Official Liquidator to return the EMD.

In the circumstances, the Official Liquidator Report is allowed in terms of prayer clauses (c) and (d).

Official Liquidator report accordingly stands disposed. (K.R. SHRIRAM, J.) Meera Jadhav