Official Assignee, High Court, Bombay v. Rahul Vipanchander Aggarwal

Kavita S.J.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL ASSIGNEE REPORT NO.18 OF 2025 IN INSOLVENCY PETITION NO.10 of 2023 RE:

Rahul Vipanchander Aggarwal ...Insolvent EX-PARTE:

Late Naresh Manekchand Aggarwal, through his heirs/Legal Representative ...Petitioning Creditors ---------- 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. Mr. Sumit Khanna i/b Dewani Associates for the Insolvent. Mr. Girish Kedia a/w Mr. Krushang Kedia for the Petitioning Creditor. Ms. Bijal Gogri i/b O.M. Gujjar Law Chambers for the Intervenor ---------- CORAM : R.I. CHAGLA, J.

DATED : 17TH JUNE, 2025.

ORDER :

KAVITA SUSHIL JADHAV 1.

The Official Assignee by the captioned Report dated 16th by KAVITA SUSHIL JADHAV Date: 2025.06.18 18:32:47 +0530 August, 2025 has sought directions with regard to the bid received by 1/3

successful bidder Ghevarchand Gumanmal Doshi of a sum of Rs.11,20,000/- for purchase of the Car which is standing in the name of Insolvent viz. Rahul Vipanchander Aggarwal. This is pursuant to the e-auction conducted in compliance with the Order dated 21st January, 2025. By the said order this Court had directed that the subject Car be put up for auction either on any Online website or on a Government website after due consultation with the Petitioning Creditor. Further, by subsequent Order dated 18th March, 2025, this Court had directed for appointment of Valuer to value the subject Car for the e-auction to be conducted after obtaining of the Valuation Report.

2.

The Official Assignee had duly appointed a Valuer and Valuation Report has been filed by M/s Haresh & Company wherein valuation of the subject Car had been arrived at. The valuation was carried out on 19th March, 2025 and the Valuation Report was submitted to the office of Official Assignee vide letter dated 25th March, 2025.

3.

It is mentioned in the said Report of the Official Assignee that this Court had reserved a price of Rs.11 Lakh for the subject Car after perusing the said Valuation Report and pursuant to which, the 2/3

Official Assignee had issued Public notice and carried out e-auction and the bid of the aforementioned bidder has been received. 4.

Considering the averments in the Report of the Official Assignee which is pursuant to the aforementioned orders of this Court for e-auction of the subject Car, the bid of the successful bidder viz. Ghevarchand Gumanmal Doshi, is accepted. 5.

Mr. Ghevarchand Gumanmal Doshi who has bid for a sum of Rs.11,20,000/- for the subject Car viz. Innova Crysta 2.8 G, MH-03-DA-9600 shall deposit a sum of Rs.10,10,000/- as the remaining balance of the bid amount, after deduction of the EMD amount of Rs.1,10,000/- from the bid amount to the estate account of the Insolvent, within a period of two weeks from today. 6.

The Official Assignee is permitted to use the auction form fee of a sum of Rs.500/- as Official Assignee's administrative expenses.

7.

The captioned Official Assignee Report is accordingly disposed of.

[R.I. CHAGLA, J.] 3/3