IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
OFFICIAL LIQUDATOR REPORT No 41 of 2003
in
COMPANY PETITION No 61 of 1991
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O.L. OF BACLAWAT OF INDIA LTD.
Versus
STATE BANK OF INDIA
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Appearance:
1. OFFICIAL LIQUDATOR REPORT No. 41 of 2003
OFFICIAL LIQUIDATOR for Petitioner No. 1
.......... for Respondent No. 1-3
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CORAM : MR.JUSTICE RAVI R.TRIPATHI
Date of Order: 05/05/2003
ORAL ORDER
The present report is filed for various reliefs
as prayed for in para 5(a) to 5(d). So far as prayer
clause (a) is concerned, the same is granted. The Sale
Committee is ordered to be constituted consisting of the
Official Liquidator as convener and the representatives
of the secured creditors and the workers’ union as
members for the purpose of disposing of the assets and
properties of the subject company. So far as prayer
clause (b) is concerned, the same is left to the Sale
Committee to avail the services of the Government
approved Valuer and to consider the bills of such Valuer
as and when it submitted. So far as prayer clause (c) is
concerned it will be open for the State Bank of India
secured creditors to incur the aforesaid expenses. In
absence of that the Official Liquidator is permitted to
incur advertisement charges and other allied actual
expenses relating to the sale of assets and safeguarding
the assets of the company from CPSSRF account subject to
reimbursement on priority basis from the sale
proceedings.
(Ravi R. Tripathi, J.)
karim