Asset Reconstruction Company (India) Limited v. The Official Liquidator Of Sun Earth Ceramics Ltd.

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY AND ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.236 OF 2019 IN COMPANY PETITION NO.244 OF 2012 Asset Reconstruction Company (I) Limited ....Applicant/Petitioner Vs.

Official Liquidator of Sun Earth Ceramics Limited (In Liquidation) ....Respondent ---- Mr. Faisal Sayyed i/b. M/s. Manilal Kher Ambalal and Company for applicant/petitioner.

Mr. Kalpesh Patil i/b. Mr. Prashant P. Raul for respondent no.6. Mr. Yogesh Patil i/b. Deokar for applicant in CA/186/2019. Mr. Mahendhar Aithe, Company Prosecutor present. ---- CORAM : K.R.SHRIRAM, J.

DATE : 6th SEPTEMBER 2019 P.C.:

Mr. Aithe states that the amount of Rs.5 lakhs has been deposited as directed by this Court in its order dated 12th June 2019. Mr. Kalpesh Patil states that affidavit of proof of debt has been lodged with the Official Liquidator regarding claims of the Gram Panchayat. Mr. Sayyed states that the limited prayer was basically to direct the Official Liquidator to take required steps to sell the assets of the company (in liquidation) in accordance with law.

Mr. Aithe states that Official Liquidator shall take steps within two weeks to commence the process of disposing off all the assets of the company (in liquidation).

Gauri Gaekwad

2/2 26.CA-236-2019.doc Mr. Sayyed states that the properties are already being protected by the security agency appointed by applicant, whose charges are also being paid by applicant.

In view thereof, company application is allowed and accordingly disposed.

For completion of records, the reply on behalf of Gram Panchayat being filed by Mr. Kalpesh Patil be taken on record. (K.R. SHRIRAM, J.) Gauri Gaekwad