Naval S/O Nandlal Agrawal v. M/S Akola Oil Industries Ltd.

(1) 18cao1295.24

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH : NAGPUR CIVIL APPLICATION NO.1295/2024 IN CIVIL APPLICATION NO.20/2018 (CAL) (D) IN COMPANY PETITION NO.5/2001 (D) Naval Nandlal Agrawal .Vs. The Akola Oil Industries (In Liqn.) --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Office Notes, Office Memoranda of Coram, Court's or Judge's orders appearances, Court's orders of directions and Registrar's orders --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Mr. A. P. Thakare, Advocate for applicant.

Mr. Shrinivas Deshpande, Advocate for Official Liquidator. Mrs. U. P. Parmar, Official Liquidator.

CORAM :

ANIL L. PANSARE, J.

DATE :

JANUARY 10, 2025 Applicant - previous purchaser is seeking refund of Rs.22,68,200/- along with interest at 7% per annum. 2.

Mr. S. Deshpande, learned counsel for Official Liquidator, submits that the Official Liquidator was required to incur expenses to republish advertisement to get the property auctioned. He submits that if at all the amount is to be refunded, an amount of Rs.50,000/- be deducted towards expenses for subsequent process.

3.

I find substance in the submissions made by Mr.Deshpande, learned counsel for the Official Liquidator. 4.

In view of above, the application is partly allowed. Amount deposited by the applicant, which is invested in the fixed deposit, be refunded to him along with interest accrued on the fixed deposit by deducting Rs.50,000/- towards expenses incurred in republishing the advertisement to sell the property. 5.

The Official Liquidator shall take necessary steps, as expeditiously as possible and preferably within one month. The application is disposed of.

(Anil L. Pansare, J.) Kahale