Official Liquidator Of Ushma Jewellery And Packaging Exports Pvt. Ltd. (In Liquidation) v. State Trading Corporation Of India Limited. (Petitioner)

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO.101 OF 2024 IN COMPANY PETITION NO.311 OF 2011 In the matter of the Companies Act, 1 of 1956;

And In the matter of Ushma Jewellery & Packaging Exports Private Limited (In Liquidation) State Trading Corporation of India Limited

...Petitioner

Mr. Ranjeev Carvalho, Advocate for the Official Liquidator. Mr. Chandan Kumar, Official Liquidator is present.

CORAM

:

ABHAY AHUJA, J.

DATE :

30th AUGUST, 2024 P.C. :

1.

This Official Liquidator's Report seeks the following directions:- "a) In view of averments made in paragraph (9) of the present report, whether this Hon'ble Court consider and pass an appropriate order with respect to highest bid of Shelden Carter Motor Garage for Rs. 70,000/- towards purchase of subject vehicle i.e. Toyota-Lexux 2004 model bearing registration no. MH-02-BG-1929 presently parked and lying at Swadeshi Mills Compound, Chunabhatti, Sion, Mumbai. b) If prayer clause (a) is affirmative and sale is confirmed whether this Hon'ble Court would be pleased to permit the Official Liquidator to deliver the possession of said car lying and parked at Swadeshi Mills Compound, Chunabhatti, Sion, Mumbai after receiving the full sale consideration from 1/3

Shelden Carter Motor Garage within such time as prescribed by this Honb'le Court."

2.

Pursuant to the order dated 22nd March, 2024, of this Court (Coram: Manish Pitale, J.), the Official Liquidator had invited bids/offers for the sale of the subject vehicle lying at Swadeshi Mills Compound, Chunabhatti, Sion, Mumbai, on as is where is basis, after which the various parties conducted inspection and submitted their bids.

3.

On 1st July, 2024, the auction was conducted, where the various bidders were present and it is observed from the Minutes at Exhibit C-1 to the report that the final bid of Rs. 70,000/- was made by Shelden Carter Motor Garage after giving an opportunity to all the five bidders and that the bid of Shelden Carter Motor Garage was the highest bid. That, therefore, the Official Liquidator has sought prayers to accept the highest bid of Shelden Carter Motor Garage for Rs. 70,000/- towards the purchase of the Toyota - Lexux 2004 model and then to deliver the possession of the said car after receiving the full consideration to be deposited in the company liquidation account. 2/3

4.

Having heard the learned Official Liquidator and considering the aforesaid, this Court allows the report in terms of prayer Clauses (a) and (b) as above.

5.

Let the Consideration be paid within a period of two weeks and the possession of the subject vehicle be delivered within a week thereafter.

6.

The Official Liquidator's Report is accordingly allowed and stands disposed.

NIKITA YOGESH GADGIL (ABHAY AHUJA, J.) NIKITA YOGESH GADGIL Date: 2024.08.31 15:55:59 +0530 3/3