Official Liquidator Of Patheja Forgings And Auto Parts Manugacturers Ltd.(In Liquidation) v. B.I.F.R

2.OLR-47--2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 47 OF 2024 IN COMPANY PETITION NO. 108 OF 2008 IN BIFR CASE NO. 292 OF 1998 In the matter of Patheja Forgings And Auto Parts Manufacturers Ltd. (In Liquidation) B.I.F.R.

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Petitioner Ms. Akanksha Agarwal, Advocate for Official Liquidator. Mr. Rajender Kumar, Official Liquidator (I/c). ARUNA SANDEEP TALWALKAR CORAM : MANISH PITALE, J.

DATE : 19th APRIL, 2024 ARUNA SANDEEP TALWALKAR Date: 2024.04.22 11:08:13 +0530 P.C. :

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Heard the learned Counsel for the Official Liquidator. 2.

By this Official Liquidator's Report(OLR), the Official Liquidator is seeking directions in terms of prayer clauses (a) and (b) which read as follows :

(a) In view of paragraph (7) supra, whether this Hon' ble Court may be pleased to confirm the sale in favour of highest bid of Rs. 78,00,000/- (Rupees Seventy Eight Lakhs Only) of Jasmine Fazal Memon in respect of the immovable property i.e. Plot No. 4, Survey No. 410/02 situated at Village Indrad, Taluka Talwalkar 1/2

2.OLR-47--2024.doc Kadi, District Mehsana, Gujrat-382715;

(b) In view of paragraph (8) supra, if the sale is confirmed in favour of Jasmine Fazal Memon, whether this Hon'ble Court may be pleased to permit the Official Liquidator to handover the possession of the immovable property i.e. Plot No. 4, Survey No. 410/02 situated at Village Indrad, Taluka Kadi, District Mehsana, Gujrat 382715 to Jasmine Fazal Memon within 30 days from the date of payment as prescribed in terms and condition, as approved by this Hon'ble Court vide order dated 19.01.2024 in OLR No. 184 of 2023.

3.

In support of the aforesaid prayers, the learned Counsel invited attention of this Court to Exh. B with the OLR being summary which shows that E-Auction was conducted on 7/3/2024 wherein 25 bidders participated and there were 39 rounds of bidding whereupon highest bid was offered by Jasmine Fazal Memon in respect of the immovable property of the Company in liquidation at Mehsana, Gujrat. By order dated 19th January, 2024 this Court fixed reserve price at Rs. 15 Lakhs. This Court perused the valuation report.

4.

This Court is satisfied that the sale can be confirmed in favour of the highest bidder.

5.

Accordingly, the OLR is allowed in terms of prayer clauses (a) and (b). Valuation report be put back in sealed cover. (MANISH PITALE, J.) Talwalkar 2/2