2016 (6) TMI 537

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....one appears for respondents no.1 and 2. 2. By this report, the Official Liquidator has prayed for the following reliefs - "(a) That this Hon'ble Court may be pleased to take on records of this Hon'ble Court, the claim verification report in respect of claim of GIDC received from the Chartered Accountants; (b) That, this Hon'ble Court may be pleased to permit the Official Liquidator to sell the remaining assets of the company i.e. Land and Building Structure, in view of the aforesaid report of the Chartered Accountants; (c) That this Hon'ble Court may be pleased to fixup the upset price of the aforesaid assets of the company (In Liqn.) as per paragraph 15 above or such other amount as may be decided by this Hon'ble Court; (d)....

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....ion No.129 of 1999. It further appears that by order dated 24.04.2001, the Official Liquidator attached to this Court came to be appointed as Provisional Liquidator. The record indicates that thereafter, by an order dated 18.03.2005 passed in OLR No.23 of 2005, sale committee came to be constituted under the Chairmanship of secured creditors and representative of the workers. The record further indicates that attempts for disposal of the assets of the company in liquidation were made in the year 2007, 2009 and 2014. However, the same was not confirmed and the offers were rejected by this Court vide three different orders passed in OLR No.60 of 2007 dated 09.04.2007, OLR No.122 of 2007 dated 07.07.2009 and OLR No.16 of 2014 dated 29.04.2014.....

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....he Times of India and Gujarat Samachar, in all editions of Gujarat on 24.03.2015. The Official Liquidator has further submitted that, in all, seven offers were received by the office of the Official Liquidator for purchase of Lot No.II, i.e., Plant & Machineries and all other movable items including car of the Company. The record indicates that thereafter, the Official Liquidator filed another report being OLR No. 47 of 2015 for various prayers, which was disposed of by an order dated 15.04.2015. This Court (Coram: S.R. Brahmbhatt, J.) disposed of the said OLR with the following directions- "6. In view thereof, the Court is inclined to disposed of this report by following direction. 7. The sale, so far as, movable is concerned, mentioned....

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....y rejected. The Official Liquidator Report is disposed of." Based on the said order, the present report is filed with the prayers as mentioned hereinabove. 7. Having considered the record of the petition and the submissions made by the learned counsel appearing for the parties, the verification report in respect of claim raised by GIDC is taken on record. As far as prayers prayed for in para 17 (b), (c) and (d) are concerned, the Official Liquidator is permitted to initiate the proceedings of sale of immovable properties of the company situated at GIDC, Panoli and the upset price and Earnest Money as well as the schedule is fixed as follows LOT Description of property Upset Price (Rs.) Earnest Money Deposit (Rs.)   Lease hol....