Official Liquidator v. Green Earth Education Ltd

1/2 8.OLR204.19.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'

S REPORT NO. 204 OF 2019 IN COMPANY PETITION NO.727 OF 2014 In the matter of Companies Act, I of 1956 ;

And In the matter of Green Earth Education Ltd. (In Liqn.) ---- Mr.Mahendhar Aithe-Company Prosecutor for OL present. ---- CORAM :K.R.SHRIRAM,J DATE : 30.8.2019 P.C.:- 1.

There are 13 bidders who have submitted bids. I find one Mr.Abdul Kadar has submitted two separate bids without giving any reason. Mr.Abdul Kadar appears to be a speculator and therefore, should be blacklisted and should not be permitted to bid for next six months by the Official Liquidator.

2.

Therefore, in effect there are only 12 bidders. Of the 12, only representatives of M/s.M.K.Raj Enterprises and S.K.Steel are present in Court. The highest bid is received from one Sahil Steel and KJ

2/2 8.OLR204.19.doc A.A.Associates, each of them offering Rs.4,30,000/-. Representatives of M/s.M.K.Raj Enterprises and S.K.Steel increased their offers to Rs.4,50,000/- each. Both these offers are way below the valuation indicated and therefore, rejected.

3.

Official Liquidator is directed to place the valuation report in an envelope and seal the same and should not make available the contents to any party without leave of the Court. 4.

Report disposed in terms of prayer clause-(c). (K.R.SHRIRAM,J) KJ