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Bombay High CourtOLR/4/2023disposed off

In The Matter Of Akola Oil Industires Ltd., Venkateshwara Edusupport Ltd. (Hyderabad Vanaspati Ltd. v. None

2023-07-27Hon'Ble Smt. Justice M. S. Jawalkar2 pages

1 41 olr 04.23

IN THE HIGH COURT OF JUDICATURE AT BOMBAY,

NAGPUR BENCH, AT NAGPUR.

OLR No. 04/2023 IN Company Petition No.05/2001 (In the matter of Akola Oil Industries Limited (in Liquidation) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Office Notes, Office Memoranda of Coram, Court's or Judge's orders appearances, Court's orders of directions and Registrar's orders - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Mr. Shriniwas Deshpande, Advocate/Official Liquidator. CORAM : SMT. M.S. JAWALKAR , J .

DATED : 27 - 07-2023 1.

Heard Mr.

Deshpande, learned Advocate/Official Liquidator.

2.

It is informed by the Official Liquidator that amongst interse bidding held between the parties present, offers were received for purchase of 54700 Equity Shares. It appears that representative - Shri Dantu Ramesh Sharma, Representative of `Lingam Power & Infrastructures Private Limited', has given highest offer for an amount of Rs.3,50,08,000/-, (Rs. 640/- per share for 54,700 Equity Shares) for which, an earnest money deposited of Rs.1,00,000/- being highest bidder. The offerer - Lingam Power & Infrastructures Private Limited is accepted by the Official Liquidator, subject to confirmation of this Court. As such, Official Liquidator submits that he be permitted to open sale valuation report and to accept the highest offer submitted by the Lingam Power & Infrastructures Private Limited for Rs.3,50,08,000/-. As amount of earnest money of

2 41 olr 04.23 Rs.1,00,000/- is already received by the Official Liquidator from highest bidder, necessary permission as per prayer clause `A' is granted subject to the condition that the remaining amount shall be deposited within 30 days from the date of passing of this Order. Accordingly, OLR is disposed of.

3.

Copy of this order be supplied to the Official Liquidator.

JUDGE ambulkar Signed By:MUKUND LAXMANRAO AMBULKAR Private Secretary