Bank Of India v. Industrial Agencies Through Partner Mr. Ashok Sah And ANR

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO. 574 OF 2020 IN OFFICIAL LIQUIDATOR REPORT NO. 229 OF 2016 Deepak G Ambardekar and Anr.

...Applicants

Versus

Official Liquidator of VIR Rubber Products Pvt. Ltd. and Ors.

...Defendants WITH INTERIM APPLICATION (L) NO. 35104 OF 2022 IN INTERIM APPLICATION NO. 574 OF 2020 WITH INTERIM APPLICATION (L) NO. 7182 OF 2023 WITH INTERIM APPLICATION (L) NO. 12591 OF 2025 IN OFFICIAL LIQUIDATOR REPORT NO. 92 OF 2023 _______ Mr. Rahul Oak, for the Applicants.

Mr. Harsh Moorjani, for the Official Liquidator. Mr. Satyajit Roul, Official Liquidator, present. Mr. Chetan Shelke, Dy. Official Liquidator, present. _______

CORAM

:

ARIF S. DOCTOR, J.

th FEBRUARY, 2026 DATE :

P.C.

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At the outset, Mr. Moorjani, learned counsel for the Official Liquidator submits that the statement recorded in Paragraph No.10 was to find place as part of Paragraph No.2. He submits that the submission of the Official Liquidator as contained in Paragraph No.2 was basis of such contention of the Bank of India. Thus, merge Paragraph No.10 by the end of paragraph no. 2. 2.

After the words "Applicants' dues" in original paragraph no. 2, add the words "in accordance with the provisions of Section 529A of Companies Act, 1956"

3.

Add a new paragraph after Paragraph No. 10, "11.

In the aforesaid circumstances, the Interim Application deserves to be allowed, and therefore, Bank of India would be at liberty to take possession of the subject property from SRI Impex. Since the official liquidator is not in physical possession of the said property. "

OFFICIAL LIQUIDATOR REPORT NO. 229 OF 2016 4.

Mr. Moorjani points out that in view of the order dated 13 th February, 2026, the OLR sofar as prayer clauses (a) and (c) of the Official Liquidator Report are effectively worked out. Insofar as prayer clause (d) is concerned, he submits that the statement of affairs has also since been filed with the office of the Official Liquidator and thus, nothing further survives in the captioned OLR. The same is accordingly disposed of.

5.

Mr. Moorjani submits that the Office of the official Liquidator should

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INTERIM APPLICATION (L) NO. 12591 OF 2025 6.

At the outset, Mr. Oak, learned counsel for the Applicant seeks leave to withdraw the captioned Interim Application with liberty to file the same afresh. 7.

The Interim Application is thus dismissed as withdrawn with the aforesaid liberty.

INTERIM APPLICATION (L) NO. 35104 OF 2022 WITH INTERIM APPLICATION NO. 574 OF 2020 8.

Learned counsel seeks leave to withdraw the Interim Applications with liberty to adopt proper proceedings. The Interim Applications are accordingly dismissed as withdrawn with the aforesaid liberty. [ARIF S. DOCTOR, J.]