The Official Liquidator High Court Bombay v. M/S Model Fastners Pvt Ltd

RNG ol.464.16.cp501.05

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO.464 OF 2016 in COMPANY PETITION NO.501 OF 2005 M/s Viral R.Malaviya .. Petitioner vs M/s Model Fastners Pvt.Ltd (In liquidation) .. Respondents Mr.Govind Solankhe for Bidder Mr.Vinod Yadav Mr.Mahendra Aithe Company Prosecutor for Official Liquidator CORAM: R.D.DHANUKA, J DATE: 22 FEBRUARY 2017 P.C.

Mentioned not on Board. Taken on Board.

1.

Learned counsel for the Bidder - Mr.Vinod Yadav states that the balance amount of the bid price i.e. Rs.56.25 lacs would be deposited by his client with the Official Liquidator within 30 days from today without fail together with interest at the rate of 10% p.a. as delayed payment interest for delayed period. Statement is accepted. 1/2

RNG ol.464.16.cp501.05 2.

Time to deposit the amount of Rs.56.25 lacs is extended by a period of 30 days from today. It is made clear that if the amount is not deposited within a period of 30 days from today with interest at 10% p.a. for the delayed payment, the amount deposited so far by the Bidder will stand forfeited without further reference to the Court and the order passed by this Court directing the Official Liquidator to hand over possession of the property to the Bidder and other directions to stand vacated forthwith upon such default.

(R.D.DHANUKA, J) 2/2