Official Assignee v. Rakesh Kedia

Kavita S.J.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL ASSIGNEE REPORT NO.1 OF 2024 IN INSOLVENCY PETITION NO.35 of 2018 RE:

Rakesh Kedia ...Insolvent WITH NOTICE OF MOTION (L) NO.14458 OF 2025 ---------- Mr. Anil Bagwe for the Insolvent.

Insolvent present.

Mr. Yogeshwar Bhate for Applicant - Nilesh Kedia. Mr. Dharam Jumani a/w Meenakshi Dhauka - Rungta & Nihar Chitre i/b Dhanuka & Partners for the Applicant in NMIS(L) 14458/2025. Ms. C.J. Bhatt, Official Assignee a/w Mr. Subodh Patil, Deputy Official Assignee & Mr. D.B. Iswalkar, 1st Assistant, Official Assignee present.

Mrs. Rekha Rane, Insolvency Registrar present. ---------- CORAM : R.I. CHAGLA, J.

DATED : 15TH JULY, 2025.

ORDER :

1.

By this Official Assignee Report, in prayer Clause (a) direction is sought against the brother of Insolvent viz. Nilesh Kedia KAVITA SUSHIL JADHAV to deposit 50% share of Insolvent viz. Rakesh Kedia on the value of by KAVITA SUSHIL JADHAV Date: 2025.07.18 18:25:21 +0530 the said Flat No.603 with the office of the Official Assignee, High 1/3

Court, Bombay. The Official Assignee has also sought direction to take physical possession of said Flat No.603, 1B Wing, Panchavati Building, Raheja Township, Malad (E), Mumbai - 400 097 which is in the alternative to aforementioned prayer Clause (a). The remainder prayers are consequential to prayer Clause (b). 2.

The learned Counsel representing the brother of Insolvent viz. Nilesh Kedia on instructions states that 50% share of the Insolvent Rakesh Kedia which is 50% of the Fair Market Value of residential Flat viz. Rs.95,28,120/- shall be deposited with the office of Official Assignee, High Court, Bombay, within a period of six weeks from today. The statement is accepted as an undertaking to this Court.

3.

In view of the above statement, the Official Assignee Report is required to be disposed of with direction to the Insolvent to deposit a sum of Rs.50,000/-.

4.

The Official Assignee Report is accordingly disposed of. 5.

The Notice of Motion (L) No.14458 of 2025 in view of this order does not survive and is accordingly disposed of. 2/3

6.

In the event, prayer Clause (a) is not complied with by Mr. Nilesh Kedia, prayer Clause (b) and (c) shall be granted. [R.I. CHAGLA, J.] 3/3