2018 (1) TMI 64

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.... may be considered appropriate by this Hon'ble Court after looking to the fair market price and the valuation of assets of the company as per the valuation report. (B) This Hon'ble Court may be pleased to permit the Official Liquidator to pay the advertisement bill of Rs. 1,65,885/- to advertising agency as per annexure "B" out of the funds available from common pool account maintained by Official Liquidator. (C) Such other and further orders and directions as may be considered just and appropriate may also be passed." 2. As stated in the report, pursuant to the advertisement published in Gujarati and English daily newspapers on 14.10.2016 for sale of properties of the company in liquidation i.e. Office premises admeasuring approxim....

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....er and handed over to the Official Liquidator. 5. The matter be listed for further orders on 19.07.2017." 3. Now before this Court, it is stated that no one from three bidders was interested in raising the bid or making fresh bid. On 13.12.2017, it was stated before the Court that one of the bidders - Ms.Sonal PrakashKumar Bhatt intimated to the Official Liquidator that she was no more interested to purchase the company's property. Then remained two bidders, out of them only Mr.Dinesh Omprakash Maheshwari continued to show interest to purchase the company's property and through his advocate Mr.Narendra Jain, he offered Rs. 62,51,000/-. As recorded in the order dated 13.12.2017, the other bidder had stated before the Court that he was n....

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...., his bid could be accepted especially when the secured creditor - the Dena Bank has no objection if such bid is accepted. Thus, bid of Rs. 64,00,000/- from Mr.Dinesh Omprakash Maheshwari is accepted. The sale for the property of the company in liquidation for Rs. 64,00,000/- in favour of Mr.Dinesh Omprakash Maheshwari shall stand confirmed subject to the terms and conditions of tender document. The Official Liquidator shall send intimation to Mr.Dinesh Omprakash Maheshwari as regards the confirmation of sale in his favour for the property of the company for Rs. 64,00,000/- and to comply with the terms and conditions of the tender document. 4. Learned advocate Mr.Jain at this stage requests to observe that his client - the highest bidder -....