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Bombay High CourtOAR/1/2024disposed off

Official Assignee v. Rakesh Kedia

2024-03-19Hon'Ble Shri Justice R. I. Chagla2 pages

10-OAR-1-2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

IN ITS INSOLVENCY JURISDICTION OFFICIAL ASSIGNEE REPORT NO.1 OF 2024 IN INSOLVENCY PETITION NO.35 OF 2018 RE : M/S. SERVEWELL PRINTERS & ORS )...INSOLVENTS EXPARTE :

M/S. SHAH DEVJI SHIVAJI & CO.

)...PETITIONING CREDITOR AND THE OFFICIAL ASSIGNEE OF BOMBAY HIGH COURT, BOMBAY )...PETITIONER Mr. Anil Bagwe, Advocate for the Insolvents.

Mr. Y.S. Bhate, Advocate for Mr. Nilesh Kedia, brother of Insolvent. Ms. C.J. Bhatt, Official Assignee, a/w Mr. Arun Kesarkar, Deputy Official Assignee, present in Court.

Ms. M.R. Parkar, Insolvency Registrar, present in Court. CORAM :

ABHAY AHUJA, J.

DATE :

19 MARCH, 2024.

P.C. :

1.

Pursuant to orders dated 16th January 2024, today when the matter is called out, learned Official Assignee informs that the Valuer has Digitally signed by ARTI VILAS KHATATE Date:

2024.03.19 19:06:03 +0530 ARTI VILAS KHATATE furnished his report in a sealed cover. The sealed cover is opened under the directions of this Court and the Valuation report with respect to Flat No.603, 1B Wing, Panchavati Building, Raheja Township, Malad (E), AVK

10-OAR-1-2024.doc Mumbai - 400 097 by Valuer M/s.Neelam Arch, appointed by this Court, is perused and it is observed that the Fair Market Value of the said flat has been worked out to Rs.95,28,120/-. The Valuation report is taken on record and marked "X" for the purposes of identification. Fifty percent of the said value would be Rs.47,64,060/- which the brother of the Insolvent Mr.Nilesh Kedia would have to deposit in the office of the Official Assignee being the share of the Insolvent Mr.Rakesh Kedia. 2.

Mr.Bhate, learned Counsel for the brother of the Insolvent is present in Court and submits that a copy of the Valuation report be furnished to him. Let an appropriate application be made to the office of the Official Assignee for the same.

3.

For Mr.Bhate to take instructions in the matter on the time in which Mr.Nilesh Kedia would make the payment, list on 2nd April 2024. (ABHAY AHUJA, J.) AVK