Official Liquidator Of Kdl Biotech Ltd. (In Liquidation) v. Shree Gadhbore Bearings Pvt. Ltd. (Petitioner)

41-OLR-120-2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION by KANCHAN PRASHANT DHURI Date: 2024.11.21 19:51:43 +0530 OFFICIAL LIQUIDATOR'S REPORT NO. 120 OF 2024 KANCHAN PRASHANT DHURI IN COMPANY PETITION NO. 902 OF 2014 In the matter of the Companies Act, I of 1956 And In the matter of KDL Biotech Ltd.

(In Liquidation) Shree Gadhbore Bearings Pvt. Ltd.

... Petitioner ------------- Mr. Ranjeev Carvalho, Advocate for the Official Liquidator. Mr. Chandan Kumar, Official Liquidator, present in Court. -------------

CORAM

:

ABHAY AHUJA, J.

DATE :

21 NOVEMBER 2024 P.C. :

1.

This Official Liquidator's Report seeks opening of the valuation report with respect to the immovable property. 2.

Mr. Carvalho, learned Counsel appears for the Official Liquidator and submits that the mortgaged immovable property was sold in an auction sale for Rs.24,20,00,000/- and the Official Liquidator's Report has been taken out, so that the monetary value assigned to the property mortgaged to the State Bank of India and M/s. Unimark Remedies is ascertained and also to ascertain the accurate Kanchan Dhuri 1/2

41-OLR-120-2024.doc area of the mortgaged property, so that the Official Liquidator can proportionately distribute the sale proceeds according to the area and the value as indicated by the valuer, so as to enable the Official Liquidator to declare dividend to the secured creditors and workers. 3.

Mr. Carvalho submits that earlier the valuation report had been opened but resealed and therefore, the request to have the same opened again in view of the aforesaid requirement. 4.

Having heard the learned Counsel for the Official Liquidator and having considered the Official Liquidator's Report, this Court is of the view that the sealed cover in which the valuation report has been kept be directed to be opened.

5.

Let the said valuation report be taken on file and let the Official Liquidator be permitted to take inspection of the same upon an application is made on behalf of the Official Liquidator. 6.

The Official Liquidator's Report accordingly stands disposed as above.

(ABHAY AHUJA, J.) Kanchan Dhuri 2/2