Official Liquidator Of Crest Animation Studios Limited (In Liquidation) v. Bijco Holding Limited
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION OFFICIAL LIQUIDATOR REPORT NO. 68 OF 2025 IN COMPANY PETITION NO. 603 OF 2016 Official Liquidator Of Crest Animation Studios Limited (in Liquidation)
...Petitioner
Versus
Bijco Holding Limited
...Respondent
----- Mr. Ranjeev Carvalho, for Official Liquidator. Mr. Satyajit Roul, for Official Liquidator.
Mr. Chetan Shelke, for Dy. Official Liquidator. ----- CORAM : ARIF S. DOCTOR, J.
th SEPTEMBER, 2025.
DATE : 19 P.C:
1.
The present captioned Official Liquidator's Report seeks the following reliefs:
"a) In view of paragraph (6) supra, whether this Hon'ble Court may be pleased to confirm the sale in favour of RS Global Infotech LLP being highest bidder for his bid of Rs.2,48,00,000/- (Rupees Two Crores Forty Eight Lakhs Only) in respect of Commercial premises at Unit No. BB07 and BB08 Basement Floor, Neelam Centre, Industrial Premises CHS, Plot No.249 B of scheme No.52, Worli Estate, Hind Cycle Road, Nr. Galxo company, worli Mumbai-400 025.
b) In view of paragraph (7) supra, if the sale is confirmed in favour of RS Global Infotech LLP, whether this Hon'ble
2/3 Court may be pleased to permit the Official Liquidator to handover the possession of Commercial premises at Unit No. BB07 and BB08 Basement Floor, Neelam Centre, Industrial Premises CHS, Plot No.249 B of scheme No.52, Worli Estate, Hind Cycle Road, Nr. Galxo company, Worli Mumbai - 400 025 to RS Global Infotech LLP within 30 days after receipt of balance consideration as prescribed in terms and condition, as approved by this Hon'ble Court vide order dated 31.07.2025 in OLR No.35 of 2024;" 2.
Mr. Carvalho, learned counsel appearing on behalf of the Official st July Liquidator, who has at the outset tendered a copy of the order dated 31 2025, passed in Official Liquidator's Report No.35 of 2024, by which this Court had fixed the reserve price in respect of the premises and immovable property at Unit No.BB07 and BB08, collectively comprising a built-up area of 1300 sq. ft., belonging to the company (in liquidation). 3.
Mr. Carvalho further points out that inspection of the said property in question was offered to prospective bidders pursuant to a notice of auction th August 2025, and that on 22 nd August 2025, an e-auction was held in on 12 which three bidders participated. He points out that one RS Global Infotech LLP emerged as the highest bidder by submitting a bid of the value of Rs.2,48,00,000/-, which he points out is almost double of the reserve price that was fixed. Mr. Carvalho, also pointed out that, as per the order dated st July 2025, that despite previous attempts for sale, no offers were received.
4.
It is in these circumstances he submits that, today given the premises in question has received a firm offer which is almost double the reserve price
3/3 fixed the said offer be confirmed in favour of RS Global Infotech LLP. 5.
Having due regard to the submissions made by Mr. Carvalho and having perused the record before me, I am satisfied that the sale of the said premises in respect of RS Global Infotech LLP deserves to be allowed. I must note that the bid submitted by RS Global Infotech LLP is almost double the reserve price.
6.
No one has appeared today to increase the said bid. Given this, I find that sufficient cause has been shown to allow the Official Liquidator's Report in terms of prayer clauses (a) and (b), already extracted above. 7.
Needless to say, the successful bidder shall comply with the terms and conditions of the sale.
8.
Given that the bid of RS Global Infotech LLP has been accepted by this Court, the EMD amounts submitted by the other two bidders, namely Shivshankar Gurushantappa Lature and Shree Mohan Ispat Private Limited, shall be refunded.
9.
The Official Liquidator's Report is disposed of in the aforesaid terms. 1.
[ARIF S. DOCTOR, J.]