The Official Liquidator Of Ankur Drugs And Pharma Ltd. (In Liquidation) v. Canbank Factors Limited. (Petitioner)

bipin prithiani 4-olr-52.24.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BIPIN DHARMENDER PRITHIANI DHARMENDER PRITHIANI Date: 2024.04.29 10:21:24 +0530 ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 52 OF 2024 IN COMPANY PETITION NO. 103 OF 2012 In the matter of The Companies Act, I of 1956;

AND In the matter of Ankur Drugs and Pharma Ltd. (in liquidation) Can bank Factors Limited ... Petitioner ****** Ms. Apurva Thipsay for Official Liquidator.

Mr. Chandan Kumar, Official Liquidator.

****** CORAM: MANISH PITALE, J.

DATE : 26th APRIL 2024 P.C. :

.

Heard learned counsel for the Official Liquidator. 2.

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

"(a) In view of averments made in paragraph (9) and (10) of this report, whether this Hon'ble Court may be pleased to pass such orders as may deem fit on the highest bid of Rs.15,65,000/- (Rupees Fifteen Lakhs Sixty-five Thousand Only) received from Pure & Cure Healthcare Pvt. Ltd. in respect 13 Vehicles lying at Himmchal Pradesh;

bipin prithiani 4-olr-52.24.doc (b) If the sale is confirmed in the favor of Pure & Cure Healthcare Pvt. Ltd, whether this Hon'ble Court may be pleased to permit the Official Liquidator to handover the possession of aforesaid vehicles, of the company (In Liqn) to Pure & Cure Healthcare Pvt. After receiving balance of 25% of bid amount within 3 days from the date of confirmation of sale by this court and the remaining sale consideration within 30 days from the order of this Hon'ble Court as prescribed in terms and conditions as approved by this Hon'ble Court vide order dated 15/3/2024 passed in Official Liquidator Report No. 187 of 2023." 3.

The process of e-auction of the movables i.e. cars belonging to the company in liquidation is undertaken in terms of order dated 9th February 2024, passed by this Court. 4.

The learned counsel for the official liquidator has invited attention of this Court to the e-auction summary at Exhibit 'C' and 'D', which shows that there were three bidders in one round of bidding. The highest bidder was one M/s. Pure & Cure healthcare Private Limited, who offered Rs.15,65,000/- for all the 13 vehicles, which were put up for auction. This Court had fixed the reserve price at Rs.15,50,000/-. Having perused the valuation report, this Court is satisfied that in the facts and circumstances of the present case, the auction can be confirmed. 5.

Accordingly, the OLR is allowed in terms of prayer clauses (a) and (b), quoted hereinabove.

6.

The valuation report shall be put back in a sealed envelope. MANISH PITALE, J.