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Bombay High CourtOLR/10/2026disposed off

Official Liquidator Of Loop Mobile (India) Ltd. (In Liquidation) v. M/S. Megasoft Limited. (Petitioner)

2026-01-16Hon'Ble Justice Shri Arif S. Doctor3 pages

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 10 OF 2026 IN COMPANY PETITION NO. 830 OF 2014 In the matter of Companies Act, I of 1956;

And In the matter of Loop Mobile (india) Ltd.

(in Liquidation) M/s. Megasoft Limited.

...Petitioner

_______ Ms. Apurva Thipasay for Official Liquidator.

Mr. Satyajit Roul, Official Liquidator.

Mr. Chetan Shelke, Dy. Official Liquidator.

_______

CORAM

:

ARIF S. DOCTOR, J.

th JANUARY, 2026 DATE :

P.C.

1.

The Official Liquidator has by way of present Report sought the following directions:

"a) In view of paras (4) to (6) of this report, whether this Hon'ble Court may be pleased to ratify the action of the Official Liquidator for appointment of panel valuer namely V S Jadon & Co, valuers LLP during the year 2022 for valuation of 2 vehicles i.e LMV Hindustan Motors Ltd Lancer bearing registration no.MH-01-CA-581 and LMV Tata Gen & Loco bearing registration no.MH-01-V-413 parked at 127. Manmala Tank Road, Taikalwadi, Mahim (West), Mumbai 400016 and permit the Official Liquidator to pay the valuation charges amounting to Rs.11,800/- (Invoice bearing No.0144/23-24 for valuation of vehicle registarion no.MH-01-

2/3 CA-581 for Rs.5900/-and Invoice bearing No.0145/23-24 for valuation of vehicle bearing registration no. MH-01-V-413 for Rs.5900/-) after deduction of applicable taxes if any from funds available in credit of the Company (In Liquidation);

b) In view of para (8) of this present report, whether this Hon'ble Court may be pleased to peruse the valuation report (in sealed cover) received from V. S. Jadon & Co., Valuer LLP, the Panel Valuer of the Official Liquidator in respect of two vehicles (cars) LMV Hindustan Motors Ltd Lancer bearing registration no.MH-01-CA-581 and LMV Tata Gen & Loco bearing registration no.MH-01-V-413 and fix the Reserve Price and Earnest Money Deposit (EMD);

c) In view of para (9) of this present report, whether this Hon'ble Court may be pleased to approve the draft "Sale Notice" and draft "Terms and Conditions of Sale" and permit the Official Liquidator to upload such approved "Sale Notice" on the website of this Court, Ministry of Corporate Affairs and auctioneer agency namely PSB Alliance Private Limited on https://baanknet.com;

d) In view of para (10) of this present report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to publish the approved Sale Notice in respect of said sale of vehicle (cars) in newspaper(s) "Free Press Journal" (English) and "Navshakti" (Marathi) both published at Mumbai through the advertising agency of the panel of Official Liquidator. Further, the Official Liquidator prays before this Hon'ble Court to permit the Official Liquidator to pay the advertisement charges to the advertising agency out of the fund available to the credit of the Company (In Liquidation);

e) In view of para (11) of this present report, whether this Hon'ble Court may be pleased to permit the Official Liquidator to sell two vehicles (cars) LMV Hindustan Motors Ltd Lancer bearing registration no.MH-01-CA-581 and LMV Tata Gen & Loco bearing registration no.MH-01-V-413 presently parked at 127, Manmala Tank Road, Taikalwadi, Mahim (West), Mumbai 400016 Mumbai through e-auction by auctioneer agency namely PSB Alliance Private Limited as mentioned in paragraph (7) supra and place further report before this Hon'ble Court for confirmation of sale;"

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Ms. Thipasay has invited my attention to the Order dated 10 th October, 2018 by which 5 out of the 7 vehicles have been sold. 3.

Ms. Thipasay has today in a seal cover submitted the valuation reports for the two cars in question bearing registration nos. MH01CA581 and MH01B413. 4.

The reports have been submitted on the basis of scrap value of the vehicles in question. Having perused the reports and the photographs which are appended to the said reports, the vehicles in question would clearly qualify as being scrap. Therefore, the Official Liquidator is permitted to sale the vehicles as scrap for the value ascribe in the said reports. 5.

The Official Liquidator's Report is accordingly allowed and disposed of in terms of prayer clauses c, d and e.

[ARIF S. DOCTOR, J.]