The Official Liquidator Of Spanco Limited. (In Liquidation) v. Dewan Housing Finance Corporation Limited. (Petitioner)

3_OLR_156_23.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 156 OF 2023 IN COMPANY PETITION NO. 398 OF 2012 In the matter of The Companies Act, I of 1956;

And In the matter of Spanco Limited (in liquidation) Dewan Housing Finance Corporation Limited ...

Applicant Mr. Anirudh Hariani for official liquidator.

Mr. Anil Bhagure, Assistant Official Liquidator. CORAM : MANISH PITALE, J.

DATE :

15th DECEMBER, 2023 P.C. :

.

By this report, the official liquidator seeks directions as per the following prayers:

"a) In view of averments made in paragraph [10] of this report, whether this Hon'ble Court be pleased to confirm the sale in favour of Z. H. Enterprises, the Highest Bidder with sum of Rs.2,56,000/- in respect of movables lying at godown of M/s. Sharad Construction Co., second floor in Building No.B, Complex-Sharad Industrial Estate, Lake Road, Bhandup (West);

b) If prayer clause (a) is affirmative, whether this Hon'ble Court would be pleased to permit the Official Liquidator to handover the possession of said movables lying at godown of M/s. Sharad Construction Co., second floor in Building No.B, Complex-Sharad Industrial Estate, Lake Road, 1/2

3_OLR_156_23.doc Bhandup (West) after receipt of full sale consideration from Z. H. Enterprises within such time as prescribed by this Hon'ble Court;"

2.

By an order dated 18.08.2023, this Court had fixed the EMD and directed the official liquidator to proceed with the sale of the movable assets. 3.

Pursuant thereto, e-auction was conducted and as per the official liquidator report, Z. H. Enterprises was found to be the highest bidder, having offered an amount of Rs.2,56,000/-.

4.

The bid summary at Exhibit E shows that there were 11 participants and that the aforesaid entity was the highest bidder. This Court has perused the valuation report and it is found that the amount offered by the highest bidder can be accepted.

5.

The valuation report shall be put back in sealed envelope. 6.

In view of the above, the prayers made at prayer clauses (a) and (b) in the present official liquidator report, are granted. 7.

The official liquidator shall take consequential steps in the matter. (MANISH PITALE, J.) by PRIYA KAMBLI Date:

2023.12.18 10:57:00 +0530 Priya Kambli PRIYA KAMBLI 2/2