Mufazzal Hakim Penwala And 3 ORS v. Deli Penrex Stationery Pvt. Ltd. And ANR

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL LODGING NO. 296 OF 2018 IN OFFICIAL LIQUIDATOR'S REPORT NO. 97 OF 2018 IN COMPANY PETITION NO. 1195 OF 2015 IN COMPANY APPEAL NO. 63 OF 2014 IN COMPANY PETITION NO. 84/397-398/CLB/MB/2013 WITH NOTICE OF MOTION LODGING NO. 642 OF 2018 Mufazzal Hakim Penwala and ors.

.. Appellants Vs.

Deli Penrex Stationery Pvt. Ltd. And anr.

.. Respondents Mr. Ankit Lohia a/w Mr. Sumit Raghani I/by Agrud Parnters for appellants. Mr. Pankaj Srivastava, Asstt. Official Liquidator present. CORAM: NARESH H. PATIL & G. S. KULKARNI, JJ.

Digitally signed by Pravin Dasharath Pandit Date:

2018.07.12 15:21:56 +0530 Pravin Dasharath Pandit JULY 10, 2018.

P.C.

1.

Official Liquidator submits that the valuation report of the articles which are in their custody has been filed before the Company Court. The Company Court ordered sale of these articles by order dated

16/10/2015. The Official Liquidator would accordingly take further steps. As to whether certain articles were stolen and the responsibility be fastened would be dealt with by the Company Court at appropriate stage. 2.

The learned counsel appearing for the appellants submits that para 4 of the impugned order is required to be set aside. Para 4 of the impugned order dated 27/6/2018 reads as under :- "4.

Therefore, the ex-director Mr. Penwalla is directed to deposit Rs.5 lakhs will the O.L. and if the Ex-Director is able to satisfy the O.L. that what is gone missing is worth only Rs.5000/- then, he may apply to the O.L. for return of the balance amount of Rs.4,95,000/-. This amount of Rs.5 lakhs be deposited within two weeks from today."

3.

In view of the facts that the responsibility is yet to be fixed, we find that para 4 of the impugned order is required to be set aside. It is informed that the police investigation is also going on. The Company Court would be at liberty to deal with the issue after investigation is complete and final valuation report is considered by the Company Court.

4.

Para 4 of the impugned order, as quoted above, is hereby set aside. Official Liquidator to take necessary steps expeditiously. 5.

Appeal is partly allowed to the above extent. 6.

Notice of Motion (L) No. 642 of 2018 does not survive and is disposed of.

(G. S. KULKARNI J.) (NARESH H. PATIL,J.)