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Bombay High CourtOLR/161/2023disposed off

The Official Liquidator Of Jairamdas Udyog Ltd. (In Liquidation) v. Firth(I) Steel Co.Ltd. (Petitioner)

2023-12-01Hon'Ble Shri Justice Manish Pitale2 pages

4.OLR.161.2023.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 161 OF 2023 IN COMPANY PETITION NO. 148 OF 1989 In the matter of Companies Act, AND In the matter of Jairamdas Udyog Ltd. (In Liqn.) Firth (India) Steel Company Ltd. (In. Liqn.)

...Petitioner

***  Mr. Rishabh Sheth, advocate for Official Liquidator.  Mr. Chandan Kumar, Official Liquidator.

 Mr. Bhavesh Wadhwani i/b M.V. Kini & Co., for Petitioner. *** CORAM : MANISH PITALE, J.

SHRIKANT SHRINIVAS MALANI SHRIKANT SHRINIVAS MALANI Date: 2023.12.06 10:04:47 +0530 DATE : 01st DECEMBER, 2023.

P. C. :

1.

Heard learned counsel for the official liquidator. 2.

By this Official Liquidator's Report, the official liquidator is seeking the following directions :

"a) In view of para (15) of this report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to break open the locks of the premises at 1st floor of Gala No. 3547, 3548 and 3549 situated at Chawri Bazar, Delhi-110006.

b) In view of para (16) of this report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to appoint a valuer from the panel of valuers of office of the Official Liquidator for valuation of the premises/gala no. 3547, 3548 and Shrikant Malani

4.OLR.161.2023.doc 3548 including 1st floor and terrace situated at Chawri Bazar, New Delhi-110006 and permit the Official Liquidator to make payment of valuer fees/charges, as per the invoice, from the funds lying/available to the credit of the company (In Liqn.) subject to deduction of TDS;

and c) For such other and further directions as this Hon'ble Court may deed fit and proper."

3.

The learned counsel for the official liquidator submits that in order to take steps for sale of the assets of the company in liquidation, appointment of a valuer is necessary and for the valuer to undertake a meaningful exercise of determining the value of the assets, it would be necessary to break open the locks of the premises in question.

4.

This Court is satisfied that the directions sought by the official liquidator deserve to be granted, in the facts and circumstances of the present case.

5.

In view of the above, the Official Liquidator's Report is disposed of by allowing prayer clauses (a) and (b) quoted hereinabove.

(MANISH PITALE, J.) Shrikant Malani