The Official Liquidator High Court Bombay v. Rajat Pharchem Ltd,

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85. OLR 271-16.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO.271 OF 2016 IN COMPANY PETITION NO.419 OF 2013 In the matter of Companies Act, I of 1956;

And In the matter of M/s Rajat Pharmachem Ltd. (In liquidation) .....

Mr. Vinod Sharma, Official Liquidator.

Ms. Yogini Chauhan, Deputy Official Liquidator. Mr. Kunal Chheda i/b M.V. Kini for Dena Bank. .....

CORAM : S.C.GUPTE, J.

DATE : 19 AUGUST 2016.

P.C. :

.

Heard the Official Liquidator and learned Counsel for Dena Bank, a secured creditor of the company in liquidation. The Official Liquidator's report seeks various directions towards sale of six cars of the company in liquidation. There is a valuation report prepared by A.V. Shetty & Associates for valuation of five cars. On the basis of this valuation report, the official liquidator seeks permission to fix the reserved price and EMD of all six cars. Perused the report of the valuer. Based on the valuer's report, values of the cars are fixed as follows :

Regd. No.

Make Model Estimated Market Value (Rs.) MH-2 AU 4240 MARUTI WAGON R Sept./2006 1,50,000 MH 02 AY 2059 MARUTI WAGNOR LXI MPI 'Mar/2007 1,50,000 MH 02 BD 2721 HONDA CIVIC AT 'Apr/2006 3,00,000

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85. OLR 271-16.doc MH 02 AP 9157 HONDA CITY ZX EXI 'Jul/2006 3,00,000 MH 02 AY 0990 HONDA CITY ZX CVT 'Feb/2007 3,00,000 GJ16 AA 7647 SCORPIO 'Jun/2007 3,00,000 The Official Liquidator is permitted to sell six cars referred to above in accordance with the parameters fixed above and on the terms and conditions at Exhibit 'G' to the report. For that purpose, the Official Liquidator is permitted to publish an advertisement and pay advertisement charges in accordance with prayer clause-(e). Dena Bank shall deposit Rs.5,017/- towards the advertisement charges with the Official Liquidator. After the charges are so deposited, the Official Liquidator is permitted to disburse the advertisement charges of Rs.30,017/- to the concerned Advertising Agency. The OLR is disposed of accordingly.

(S.C.GUPTE, J.)