Official Assignee High Court Bombaybank Of India v. Suresh Shamaldas Sanghvi And ORS.

25-OAR-75-25.doc rsk

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS INSOLVENCY JURISDICTION OFFICIAL ASSIGNEES REPORT NO.75 OF 2025 IN INSOLVENCY PETITION NO.152 OF 2005 Re: Suresh Shamaldas Sanghvi & Ors.

... Debtors Ex-parte:

Bank of India ...Petitioning Creditors Mrs. Rekha Rane, Insolvency Registrar present. Ms. C. J. Bhatt, Official Assignee a/w Mr. Subodh Patil, Deputy Official Assignee & Mr. D. B. Iswalkar, 1st Assistant, Official Assignee present. CORAM :

JITENDRA JAIN, J.

DATED :

12 DECEMBER 2025 P. C.:

1.

The balance lying in the estate account is only Rs.325/- whereas the amount of debt outstanding is Rs.1,44,31,524/- and more than 20 years have passed but the petitioning creditor has failed to furnish any information of the insolvent. The insolvent is also not traceable. Some of the properties were acquired by the Bank under SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002) proceedings and the Banks have recovered money due to them. There are no other properties on record.

Digitally signed by RAJESHWARI SUBODH KARVE Date:

2025.12.15 17:38:02 +0530 RAJESHWARI SUBODH KARVE 2.

In view of the above facts, it is not feasible to pursue this matter any further and, therefore, the estate account is closed and the amount lying in the said account is to be transferred to unclaimed dividend capital account as per Rule 178 of the Presidency Towns Insolvency Act, 1909.

25-OAR-75-25.doc 3.

Report is made absolute in terms of prayer clauses (a) and (b).

[ JITENDRA JAIN, J. ]