The Official Liquidator High Court Bombay v. M/S. Victory Genset Pvt. Ltd.

1/2 5.OLR275.17

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OLR NO.275 OF 2017/LIQN.V IN COMPANY PETITION NO.55 OF 2011 AND COMPANY PETITION NO.333 OF 2010 In the matter of the Companies Act I of 1956 ;

And In the matter of M/s.Victory Genset Pvt. Ltd. (In Liqn.) M/s.Shree N.M.Electricals Ltd.

)...Petitioner And M/s.Panchavati Associates )...Petitioner ---- [Mr.P.Atchuta Ramaiah-OL along with Mr.Mahendhar Aithe-Company Prosecutor present].

---- CORAM : K.R.SHRIRAM,J DATE : 20.6.2018 P.C.:- On 10.1.2018 on the representation of Mr.Nandkumar Bagwe, Ex-director, the Official Liquidator Report was stood over to 21.2.2018. At that time, Mr.Bagwe gave an undertaking to deposit sum of Rs.5,00,000/- on or before 31.1.2018 and balance amount of Rs.10,00,000/- by 15.2.2018. On 28.2.2018 Mr.Bagwe once again requested for time and informed the court that entire amount of Rs.15,00,000/- will be deposited by 9.3.2018. On 14.3.2018 again KJ

2/2 5.OLR275.17 Mr.Bagwe sought time and OLR was stood over to 11.4.2018 as last chance. On 25.4.2018 nobody was present and therefore, the matter was stood over to today and in the meanwhile, as directed by this court, Official Liquidator issued notice to the Ex-director. The Company Prosecutor states that notice has been served and delivered on 7.5.2018 and e-mail was also sent on 21.5.2018. When the OLR was listed on 13.6.2018, an advocate appeared and requested the OLR be stood over to today.

OLR was therefore, stood over to today. Even today, nobody is present.

Having considered the report, the same is allowed in terms of prayer clause-(a). If the details are not provided within 2 weeks, the alternative prayer clause-(a) will be applicable. Prayer clauses-(b) & (c) are also granted.

OLR accordingly disposed.

(K.R.SHRIRAM,J) KJ