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OLR/107/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
OFFICIAL
LIQUDATOR REPORT No. 107 of 2010
In
COMPANY
PETITION No. 4 of 2006
=========================================
O
L OF PRIME FLOOR TILES PVT LTD ( IN LIQN.) - Applicant(s)
Versus
RAJKOT
NAGARIK SAHAKARI BANK LTD - Respondent(s)
=========================================
Appearance :
MR
NITIN K MEHTA for the
Applicant.
=========================================
CORAM
:
HONOURABLE
MR.JUSTICE K.A.PUJ
Date
: 29/09/2010
ORAL
ORDER
The
Official Liquidator has filed this report to fix up the upset price
for sale of land admeasuring about 19425 sq.mtrs. (23232.12 sq.yds)
situated at survey no. 101/1 and 101/2 P Mouje Makansar, Ta: Morbi,
Dist: Rajkot including building, structure and plant, machineries and
all otehr movables situated thereon based on fresh valuation dated
17th February, 2010. The Official Liquidator has also sought
permission of this Court to issue an advertisement inviting offers
from the intending purchaser for purchase of land, building, plant
machineries and all other movable assets of the company by issuing
advertisement in AKILA (Evening Edition) in Gujarati script and The
Times of India, Ahmedabad Edition or any other newspaper as may be
decided by the Court.
2. Heard
Mr. Mrugesh Jani, learned advocate for Mr. Nitin Mehta, the learned
advocate appearing for the Official Liquidator and perused the report
alongwith attached documents therewith.
3. Mr.
Mrugesh Jani has submitted that while this report was under
preparation, the Official Liquidator has received one letter from
M/s. S.K.Ravi and Associates, Advocate alongwith a sealed envelope
requesting the Official Liquidator to place it before the Court and
to get the same opened in the Court. Accordingly,the said envelope is
opened and the offer is made by Mr. Ravi’s client for Rs. 4.11
crores. This is also considered while fixing up upset price. Since
the land and building, as well as plant and machinery are valued by
the valuer at Rs. 4,69,73,000/-, the composite upset price is fixed
at Rs. 4,70,00,000/- and for the land and building structure, the
upset price is fixed at Rs. 3.05 crores whereas the upset price for
the plant and machinery is fixed at Rs. 1.65 crores. The Earnest
Money Deposit at 10% of the aforesaid amount should be insisted from
the intending purchasers. The Official Liquidator is accordingly
permitted to issue advertisements in two newspapers as suggested by
him. All the offers that may be received by him pursuant to the
advertisement shall be produced before the Court in sealed covers and
the auction will take place in the Court on 29th October, 2010. The
Official Liquidator shall inform M/s. S.K.Ravi and Associates to the
effect that the envelope given by him was placed before the Court and
it is opened and now the Court has already directed to fix upset
price and issue public advertisements. The papers are given back to
the Official Liquidator for his record. S.O. to 29th October, 2010.
(K.A,PUJ,J)
***vcdarji
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