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Bombay High CourtOLR/24/2024disposed off

The Official Liquidator Of Shree Venkatesh Steels Ltd. (In Liquidation) v. The Board For Industrial And Financial Reconstruction, New Delhi (Petitioner)

2024-02-23Hon'Ble Shri Justice Manish Pitale2 pages

bipin prithiani 6-olr-24.24-stm.doc This order is corrected as per speaking to minutes order dated 28th February, 2024.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 24 OF 2024 IN COMPANY PETITION NO. 575 OF 2014 AND COMPANY PETITION NO. 247 OF 2015 In the matter of The Companies Act, I of 1956;

AND In the matter of Shree Venkatesh Steels Ltd. (in liquidation) The Board for Industrial and Financial Reconstruction, New Delhi ... Petitioner AND DMK Petrotraders & Carrier Pvt. Ltd. ... Petitioner ****** Mr. Harsh Moorjani, for the Official Liquidator. Mr. Chandan Kumar, Official Liquidator.

Mr. Nikhil Rajani i/by M/s. V. Deshpande & Co. for the CreditorCosmos Co-op. Bank Ltd. ****** CORAM: MANISH PITALE, J.

DATE : 23rd FEBRUARY, 2024 P.C. :

.

Heard learned counsel for the official liquidator. 2.

By this Official Liquidator Report (OLR), the official liquidator is seeking appropriate directions for appointment of a

bipin prithiani 6-olr-24.24-stm.doc valuer, from the panel maintained by the official liquidator, for carrying out valuation of movable assets of the company in liquidation.

3.

In the interest of justice, the OLR is allowed in terms of prayer clause (a), which reads as follows :

"(a) In view of paragraph (6) of this report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to (i) appoint panel valuer for preparation of inventory and valuation of movables (Plant and machineries) lying at Village - Kharsundi, Taluka - Khalapur, District - Raigad, (ii) pay the bill of Valuation fees out of the funds available to the credit of the Company (In Liquidation), subject to deductions of applicable taxes, if any and iii) to file appropriate Official Liquidator Report for sale before this Hon'ble Court on receipt of Valuation report;"

MANISH PITALE, J.

DHARMENDER PRITHIANI Date: 2024.02.29 12:47:28 +0530 BIPIN DHARMENDER PRITHIANI