The Official Liquidator High Court Bombay v. Alpic Frinance Ltd.

63-OLR779-15.DOC Shephali

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 779 OF 2015 The Official Liquidator, High Court, Bombay

...Petitioner

Mr. Abbas Mandviwala, for the Cosmos Co-op. Bank Ltd. Mr. Vinod Sharma, Official Liquidator, present. Ms. Yogini Chauhan, Deputy Official Liquidator, present. CORAM: G.S. PATEL, J DATED:

18th March 2016 PC:- 1.

It appears that the immovable property being Flat No. 7, Building No. 1, Pushpa Vihar CHS Ltd., Colaba Road, Mumbai 400 005 was twice put to sell by public auction. The sale has not succeeded. At that time, the reserve price was Rs.2,60,00,000/- with an EMD of Rs.2,50,00,000/-. I believe it is necessary to make anther attempt at sale. The Official Liquidator reports that his own enquiries reveal that there has been a substantial fall in the prices in this area.

2.

The reserve price is revised to Rs. 2,00,00,000/-. The EMD is revised to Rs. 50,00,000/-. The Official Liquidator will make one more attempt and shall issue a sale notice in the (i) Free Press Journal in English, and (ii) Navashakti in Marathi as also by

63-OLR779-15.DOC uploading information on the websites of this Court, the Official Liquidator and the Ministry of Corporate Affairs. Advertisements of the sale notice are to be pasted on the notice board of the office of the Official Liquidator. The Official Liquidator may engage the services of the same advertising agency and shall pay its fees. The usual terms and conditions of sale and the text of the sale notice as used earlier with the figures changed as indicated above are to be used.

3.

The Official Liquidator's Report is disposed of in these terms.

(G. S. PATEL, J.)