Naresh Manekchand Agarwal v. Rahul Vipanchander Aggarwal

8-OAR-64-2025.DOCX rsk

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS INSOLVENCY JURISDICTION OFFICIAL ASSIGNEES REPORT NO.64 OF 2025 IN INSOLVENCY PETITION NO.10 OF 2015 Re :

Rahul Vipanchander Aggarwal) ...Insolvent Ex-Parte :

Late Naresh Manekchand aggarwal, through his Heirs/legal Representative Kavita Naresh Agarwal & Ors.) ....Petitioning Creditor ---- Mr. Sumit Khanna i/b Dewani Associates for Insolvent. Mr. Girish Kedia a/w. Mr. Krushang Kedia for the Petitioning Creditor.

Ms. Bijal Gogri i/b. O. M. Gujar Law Chambers, for Secured Creditor.

Ms. C. J. Bhatt, Official Assignee a/w Mr. Subodh Patil, I/c. Insolvency Registrar/Deputy O.A. and Mr. D. B. Iswalkar, 1st Assistant O.A. present.

---- CORAM :

Jitendra Jain, J.

DATED :

7 November 2025 PC:- 1.

Heard learned counsel for the parties and the official assignee. An attempt made to sell flat 801 in 'B'Wing of Jay Jardin, Chembur has failed. An earlier attempt was made by auctioning through a site operated by Railtel Corporation of India Limited. The last reserve price fixed was 3.10 crores but no bid was received. Therefore, the present report is placed before me for re-auctioning the property.

8-OAR-64-2025.DOCX 2.

After hearing the parties and the official assignee and perusing the record, I am of the view that prayer clauses (b) and (c) are to be allowed. The fresh reserve price to be fixed at Rs.3 crores. EMD to be fixed at 10% of Rs.3 crores which is Rs.30 lakhs.

3.

The Official Assignee is also requested to write to the Chairman/Secretary of the Society in which the flat is located so that the Chairman/Secretary can put advertisement notice on the notice board of the Society which would enable the occupants of the Society if they are interested to bid for the said flat. 4.

The Official Assignee may also explore selling the flat through local brokers or by listing the said flat for sale on website of Magicbricks or on any other similar website. 5.

If the Official Assignee receives any direct offer, the same may be placed before the Court for further consideration. 6.

Official Assignee's Report is disposed of.

(Jitendra Jain, J)