Official Liquidator Of K. R. Commodities Exports Private Limited. (In Liquidation) v. Shree Renuka Sugars Limited. (Petitioner)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR REPORT NO. 150 OF 2026 IN COMPANY PETITION NO. 404 OF 2010 In the matter of Companies Act, I of 1956;

And In the matter of K. R. Commodities Exports Private Limited. (in Liquidation) Shree Renuka Sugars Limited.

...Petitioner

_______ Ms. Prachi Pandya a/w Ms. Bhavya Ganatra i/b Corporate Attorneys for Noticee No. 1.

Ms. Akanksha Agrawal, for Official Liquidator. Mr. Anil Bhagure, Dy. Official Liquidator present. _______

CORAM

:

ARIF S. DOCTOR, J.

th MARCH, 2026 DATE :

P.C.

1.

Heard Ms. Agrawal, learned counsel appearing on behalf of the Official Liquidator as also Ms. Pandya for the State Bank of India. 2.

Ms. Agrawal points out that the Official Liquidator has received the following claims, for convenience are extracted herein below: Sr.

Details of Creditors Amount Claimed Amount Admitted No.

Secured Unsecured (U/s 529 / 529A)

2/4 (i) Kotak Mahindra 3,39,01,376/- - 2,06,35,910.64/- Bank Limited (Unsecured Creditor) (ii) State Bank of India 1,02,28,240.37/- 8,77,084/- - (Secured Creditor) 1,28,29,86,731.8 21,50,00,000/- 18,50,00,000/- 5/- (iii) I-Dot Co-operative 15,91,867/- - 14,23,008/- Housing Society Ltd.

(Society Dues as Liquidation Expenses) (iv) Municipal 1,64,00,560/- - - Corporation, Pune (Municipal Dues as Liquidation Expenses) Total Amount 1,34,51,08,775.2 21,58,77,084/- 20,70,58,918.64/- Admitted 2/- 3.

Ms. Agrawal points out that in so far as claim of Kotak Mahindra Bank Ltd. is concerned, it is an unsecured creditor, she submits that though the claim of I-Dot Co-operative Housing Society Ltd. is also an unsecured creditor, the same is accorded priority as it would qualify as a liquidation expense. In this context, she submits that the Liquidator is presently seeking to make the following payments:

Sr Particulars Amount (In Rs.) No.

3/4 Balance amount as on date to the credit of 11,51,37,080/- the Company (In Liqn.) (less) Full and Final amount of Society 14,23,008/- Dues as Liquidation expenses 3.

(less) Provision for dues of Municipal 1,64,00,560/- Corporation, Pune to quantify as Liquidation Expenses.

(Claim not adjudicated) 4.

(Less) Balance to be kept with Official 10,00,000/- Liquidator for Official Liquidator expenses and commission in respect of Company (In Liqn.) Net available amount for distribution as 9,63,13,512/- dividend st and final dividend @ 100 % on total 8,77,084/- admitted amount of State bank of India i.e.

Rs. 8,77,084/- as Secured Creditor against the captioned Company (In Liqn.) i.e. K R Commodities Exports Pvt Ltd.

st dividend @ 44.389% on total admitted 9,54,36,350/- amount Rs.21,50,00,000/- of State Bank of India towards claim of Principal Debtor Anytime India Fitness Pvt Ltd (In Liqn.) admitted as claim against captioned

4/4 company (in liqn.) as surety.

4.

After keeping aside an amount of Rs. 1,64,00,560/- in respect of Municipal Corporation, Pune. Learned counsel for the State Bank of India, does not oppose the application, but only submits that the claim of the said Municipal Corporation, Pune be adjudicated within some time bound period and not get open ended, she is correct in her submission, hence the Report is allowed in terms of the aforesaid prayers.

5.

It is clarified that the Official Liquidator shall take appropriate steps to intimate the Municipal Corporation, Pune to submit their necessary documents in respect of their claim. In the event, the Municipal Corporation, Pune does not do so within the next six months, the Liquidator shall adjudicate the claims. 6.

A copy of this order shall be served by the Official Liquidator to the Municipal Corporation, Pune.

[ARIF S. DOCTOR, J.]