Official Liquidator Of Narmada Offshore And Technical Services Private Limited. (In Liquidation) v. Krishna Sheet Processors Pvt Ltd. (Petitioner)

Digitally signed by MEERA MAHESH JADHAV Date:

2026.01.12 17:43:43 +0530 1/3 MEERA MAHESH JADHAV

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 98 OF 2025 IN COMPANY PETITION NO. 1180 OF 2015 In the matter of Companies Act, And In the matter of Narmada Offshore And Technical Services Private Limited. (in Liquidation) Krishna Sheet Processors Pvt Ltd.

...Petitioner

_______ Ms Akanksha Agrawal for Official Liquidator.

Mr. Satyajit Roul, Official Liquidator present. Mr. Chetan Shelke, Deputy Official Liquidator present. _______

CORAM

:

ARIF S. DOCTOR, J.

th JANUARY 2026 DATE :

P.C.

The captioned Official Liquidator Report seeks the following directions from this Court:

a. In view of paras (4) and (10) to (13) of this report, this Hon'ble Court be pleased to permit the Official Liquidator to sell the Maruti Swift Dzire VD BS IV Car bearing registration No. MH 01-AR-9402 through e-auction by PSB Alliance Private Limited and permit the Official Liquidator to place further report before this Hon'ble Court for confirmation of the highest bidders in e-auction, subject to Confirmation by this Hon'ble Court. b. In view of the para (10) of this report, this Hon'ble Court may fix reserve

2/3 price either at the reserved price Rs.1,50,000/- already fixed by this Hon'ble Court vide order dated 5th May 2020 (Annexure B) on such other reserve price as this Hon'ble Court pleases to fix and also fix EMD accordingly. c. In view of the para (13) of this report this Hon'ble Court may be pleased to approve draft "Sale Notice" draft "Terms and Conditions of Sale" d. In view of the para 4, 10 to 14 of this report this Hon'ble Court may be pleased to permit the Official Liquidator to publish sale notice in newspaper as required under Rule 272 and 273 of the Companies (Court) Rules, 1959 to publish a sale notice in newspapers in 'Free Press Journal' (In English) and 'Navshakti' (In Marathi) both published/circulated from Mumbai for sale of the Maruti Swift Dzire VD BS IV Car bearing registration No.

MH 01-AR-9402, and the Official Liquidator may be permitted to pay the advertisement charges for publishing the sale notice in newspaper from the credit of the company (In Liqn.) e. In the event that the Official Liquidator receives no offers in the eauction for the sale of the Maruti Swift Dzire VD BS IV Car bearing) registration No.MH 01-AR-9402, this Hon'ble Court may be pleased to permit the Official Liquidator to sell the same as scrap. Ms Agarwal points out that by an order dated 5 th March 2020 this Court (B. P. Collabawalla J.) had fixed the reserve price for the car at Rs.1,50,000/- on the basis of the valuation obtained in the year 2019, which valued the said car at Rs.2,30,000/-. Ms Agarwal also points out from the order dated 5 th March 2020 that if the sale of the car did not fructified, the same would be sold as scrap.

She points out that on account of various intervening factors the sale of the car was never taken forward and it is thus that today the aforesaid directions are sought for.

However, in my view, a passage of time and fact that the condition of the car which is manufactured in the year 2010 would certainly have deteriorated. The Official Liquidator shall to sale the said car at a reserve price of Rs,50,000/-.

3/3 In the event, the car is not sold, at that price, the Official Liquidator shall be permitted to proceed to dispose of / sale the car in scrap. The Official Liquidator Report is accordingly disposed of. [ARIF S. DOCTOR, J.]