2010 (10) TMI 82

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.... for the Applicant. Manish Jain, Alok Jagga, Ms. Jai Shree Thakur and Puneet Kansal for the Respondent. ORDER 1. This order shall dispose of C.P. No. 77 of 2010 filed by the Official Liquidator to seek confirmation of sale of the property of the Company (in liquidation) and C.A. No. 339 of 2010 filed by the highest bidder, i.e., M/s Itfak Traders for confirmation of sale in its favour. 2.....

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....ch advertisements, 7 tenders were received, i.e., 4 of Composite Lot and 3 for Lot No. II. The Official Liquidator recommended acceptance of the bid of respondent No.6, i.e., M/s Itfaq Traders in the total sum of Rs. 3.21 crore of the two lots with the consent of the secured creditors. 4. In C.A. No. 596 of 2010 in C.P. No. 105 of 2009, one M/s S.R. Buildcon Private Limited has offered to buy t....

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....creditors on pro rata basis. The advertisements shall be published within a period of one week with stipulation that the offers can be submitted within two weeks thereafter. It shall be stipulated in the advertisement that the highest bidder, i.e., M/s Itfak Traders has offered to give a composite bid in the sum of Rs. 3.21 crores. The Official Liquidator may open the bids and produce the same for....

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....er, who has offered for the assets of the Company in the sum of Rs. 3.45 crores. Therefore, to get the maximum price of the Company, I think that an attempt is required to be made to obtain optimum price of the assets of the company. It is the duty of the Company Court, which is to watch the interest of the secured creditors and the workmen that the maximum price is received from the assets of the....