2022 (1) TMI 668

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....) Regulations, 2016 (the Regulations) seeking a permission for conducting the Private Sale of the Assets of the Corporate Debtor with the following prayers: A. Allow the present application. B. Permit the applicant, being Liquidator of the Corporate Debtor, to sell the immoveable property at Alibaug alongwith the equity shares held by the Corporate Debtor in its subsidiary, Urban Rupi Infrastructure Pvt. Ltd. to Leisure Enterprises LLP. C. Pass such other order/directions as this Hon'ble Bench may deem fit and proper in the facts and circumstances of the case. 2. The facts leading to the Application are as under. a. Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by t....

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.... village Kihim, having Survey No. 767 and in Village Gunjis having Survey No. and Hissa No. 7/1 and 9/1/4 in Alibaug, Maharashtra (Lot1) alongwith the equity shares of a subsidiary company of a Corporate Debtor being Urban Rupi Infrastructure Pvt. Ltd. ("URIPL") having face value of Rs. 10/- bearing distinctive Nos. 0001 to 10000 comprising of the immoveable property in Village Boris, having Survey No. and Hissa No. 33/2, 34/1(pt), 41/3(pt), 42/3(pt), 43, 44/2, 45/1, 46, 47/1 A, 47/1E, 47/2A, 47/2D, 49/2, 50/1 and in Village Kihim having Survey No. and Hissa No. 754/1, 761 and 764 (Lot 2)' [said Property]. e. Thereafter Applicant as in capacity of liquidator he published 1st auction notice No. 18.07.2019, however he did not received ....

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....isition matters vide its order dated 27.07.2021. Pursuant to the direction, this bench received a collector report dated 20.10.2021 providing the details of the property with market value. The total market value of the said property is 57.68 crores (Rs. 20.88 crores of lot 1 and Rs. 36.80 crores of Lot 2). 4. It is noted that as per last auction notice dated 25.03.2021 the reserve price of lot 1 is 21.39 crores and market value as per valuation report received from collector is Rs. 20.88 crores. There is no big difference in the valuation done by valuer appointed by liquidator and collector report. Also it is noted that the total market value of the said property is Rs. 57.68 crores and total reserve price of the said property is Rs. 58.....