Official Liquidator v. Mileshtone Interactive Pvt. Ltd

kvm 1/2 36-OLR 263.19

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 263 OF 2019 IN COMPANY PETITION NO. 525 OF 2015 In the matter of Companies Act, I of 1956 AND In the matter of Milestone Interactive Private Limited (In Liqn.) Rajkumar Mohansing Bajaj ..... Petitioner Mr.Jayant R. Sharma for the Ex-director.

Mr.Dishang Shah for the noticee no.3.

Mr.Mahendhar Aithe, Company Prosecutor for the Official Liquidator present.

CORAM :

R.D. DHANUKA, J.

DATE :

28th NOVEMBER, 2019 P.C.

I have perused the valuation report of moveable assets submitted by the valuers V.S.Jadon & Co. in respect of the moveables dated 9th November,2019.

2.

It is suggested by the learned counsel for the noticee no.3 Mr.Hitesh B.Kakkad and others that if this court proposes to pass any order for auction of these moveable assets, the expenses for auction of these moveable properties will be much more than the valuation of the property. Learned counsel on instruction undertakes that since his

kvm 2/2 36-OLR 263.19 client is interested in vacant possession of the immoveable property, he is ready and willing to pay the amount as may be directed to be paid by this court in respect of those moveable property. 3.

Considering the valuation report, I have suggested a sum of Rs.65,000/- to be paid by the noticee no.3 for those immoveable assets. Learned counsel appearing for the noticee no.3 undertakes to deposit Rs.65,000/- in the office of the Official Liquidator within one week from today.

4.

Official Liquidator upon receipt of such amount of Rs.65,000/- shall handover possession of the immoveable property along with the articles lying therein excluding 80 to 100 cartoons containing papers and files described at serial no.29 of the valuation report. 5.

Learned Company Prosecutor states that all those papers and file will be removed from the immoveable property within one week from the date of noticee no.3 depositing a sum of Rs.65,000/- with the Official Liquidator. Statement is accepted.

6.

Official Liquidator's Report is disposed of in the aforesaid terms. There shall be no order as to costs.

7.

Learned counsel for the noticee no.3 undertakes that his client would file an Vakalatnama in favour of an advocate within one week from today. Undertaking is accepted.

[R.D.DHANUKA, J.]