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OJA/200/2007 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
O.J.APPEAL
No. 200 of 2007
In
COMPANY
APPLICATION No. 352 of 2007
In
OFFICIAL
LIQUDATOR REPORT No. 115 of
2007
=========================================
FERNHILL
TRADING COMPANY - Appellant(s)
Versus
DEPUTY
SECRETARY INDUSTRIES & MINES DEPARTMENT & 4 - Opponent(s)
=========================================
Appearance
:
MR AS VAKIL
for Appellant(s) : 1,
None for Opponent(s) : 1 -
4.
OFFICIAL LIQUIDATOR for Opponent(s) :
5,
=========================================
CORAM
:
HONOURABLE
MR.JUSTICE M.S.SHAH
and
HONOURABLE
MR.JUSTICE K.A.PUJ
Date
: 31/08/2007
ORAL ORDER
(Per
: HONOURABLE MR.JUSTICE M.S.SHAH)
Notice
returnable on 07.09.2007. Mr.J.S.Yadav, learned advocate for the
Official Liquidator waives service of notice.
2. Without
prejudice to the rights and contentions of the parties, the following
order is passed:-
(i) The
petitioner shall deposit EMD of Rs.50 lacs and also late entry fee at
the rate of 15% per annum on the amount of EMD for a period from
20.04.2007 to 03.09.2007. The amounts shall be deposited with the
Official Liquidator by two Demand Drafts of Rs.50 lacs and Rs.3 lacs
in favour of the Official Liquidator Priyalaxmi Mills Unit of Gujarat
State Textile Corporation. The normal inspection fees shall be paid
to the Official Liquidator in cash.
(ii) Upon
deposit of the aforesaid amounts by Demand Drafts and payment of
inspection fees in cash, the Official Liquidator shall permit the
appellant to inspect the properties put up for sale as per the
advertisement published in news paper dated 12/13.04.2007 pertaining
to the above Company in liquidation. As soon as the aforesaid
requirements are complied with, the Official Liquidator shall permit
the appellant to inspect the properties on 03.09.2007.
3. It
is clarified that we have not granted any stay against auction to be
held pursuant to the orders of the learned Company Judge.
4. In
case the appellant complies with the above stipulations, the
appellant will be permitted to participate in the auction also.
A
copy of this order shall also be made available to Mr. Yadav for the
Official Liquidator. Direct service on the Official Liquidator
today.
[M.S.SHAH,
J.]
[K.A.PUJ,
J.]
mrpandya*
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