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COMA/465/2009 4/ 4 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 465 of 2009
In
COMPANY
PETITION No. 44 of 2003
=========================================================
SYNDICATE
BANK - Applicant(s)
Versus
OFFICIAL
LIQUIDATOR OF M/S SPS ENGINEERING LIMITED & 2 - Respondent(s)
=========================================================
Appearance :
MR
VIBHUTI NANAVATI for
Applicant(s) : 1,
OFFICIAL LIQUIDATOR for Respondent(s) : 1,
MR
MRUGESH JANI for Respondent(s) : 1,
NOTICE SERVED for
Respondent(s) : 2,
NOTICE SERVED BY DS for Respondent(s) :
3,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE M.R. SHAH
Date
: 15/03/2010
ORAL
ORDER
Present
Judge’s Summons has been taken out by the applicant Syndicate Bank
for an appropriate order directing the Official Liquidator of M/s.
SPS Engineering Ltd. (in liquidation) to handover the vacant and
peaceful possession of office premises situated at 5/B. 5th
Floor, Neptune Tower, R.C.Dutt Road, Alkapuri, Vadodara, standing in
the name of Shri Amalkumar Das and Smt. Rita A.Das to the
applicant-Bank forthwith.
It
is the case on behalf of the applicant-Bank that as such, the
aforesaid office premises in question is of the ownership of the
Ex-directors of the Company in liquidation which was mortgaged with
the applicant-Bank. Therefore, it is requested to grant the relief
as prayed for.
Official
Liquidator of the Company in liquidation has submitted the report
dated 30th January, 2010 and relevant para is paragraph
No.4 which reads as under:
4. That, from
the documents submitted by the secured creditor Syndicate Bank, it is
observed that the properties situated at Flat No.5-B at Neptune
Tower, Alkapuri, Baroda was the personal property of the Ex-Directors
Shri A.K.Das and Smt.Rita A.Das and the said office premises was the
registered office of the said Company (In Liqn.). At present
possession of the said office is with the Official Liquidator. It is
further submitted that the applicant Bank had filed an affidavit in
Official Liquidator’s Report No.91 of 2005 before this Hon’ble Court
on 9.12.2006. In the said affidavit the value of the movable articles
i.e. furniture, fixture and office equipment lying in the Baroda
office premises is Rs.3.00 lacs. A copy of the valuation report dated
14.9.2005 carried out by the applicant Bank is annexed herewith and
marked as Annexure-C . Therefore, it is submitted that before
handing over possession of the Regd Office to the applicant Bank, the
movable assets of the Company (In Liqn.) are required to be sold and
records of the Company are required to be shifted to the office of
the Official Liquidator. In the circumstances, the Official
Liquidator may be directed to sell out the movable assets of the
Company lying in the subject premises in association with applicant
Bank by public advertisement and auction. The Official Liquidator may
also be permitted to shift the Company’s records to the office of the
Official Liquidator before handing over possession of the said office
to the applicant Bank or other directions as this Hon’ble Court may
deem fit and proper .
Having
heard the learned advocates for the respective parties and
considering the reports submitted by the Official Liquidator
referred to herein above, Official Liquidator is hereby directed to
handover the possession of the Office premises in question situated
at 5/B. 5th Floor, Neptune Tower, R.C.Dutt Road,
Alkapuri, Vadodara, within a period of 2 (two) weeks from today and
in the meantime, the Official Liquidator to see to it that the
records of the Company in liquidation is shifted to their office. So
far as the immovable properties in the office premises in question
which belong to the Company in liquidation for which even the
earlier inventories have been made is concerned, the Official
Liquidator in association with the applicant-Bank to sell the same
after inviting the tenders by giving advertisement in local
newspapers and the said exercise to be completed within a period of
3 (three) months from today. On selling the immovables properties of
the office premises in question, the amount realized shall be
retained by the Official Liquidator after getting the sale confirmed
by this Court. Thereafter, the applicant-Bank shall be considered to
be in exclusive possession of the office premises in question. Till
then, the applicant-Bank shall be considered to be in symbolic
possession of the office premises in question.
With
this, present company application is disposed of.
(M.R.SHAH,
J.)
(ashish)
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