MAHALAXMI ENTERPRISES Vs. DEE PHARMA LIMITED
LAWS(DLH)-2007-8-358
HIGH COURT OF DELHI
Decided on August 13,2007

MAHALAXMI ENTERPRISES Appellant
VERSUS
DEE PHARMA LIMITED Respondents

JUDGEMENT

- (1.) This appeal is directed against the judgment and order dated 12th May, 2005 passed by the learned Single Judge rejecting the application filed by the appellant and directing for evaluation of the remaining plant and machinery and furniture and fixtures for putting the said assets to sale.
(2.) The assets of the company in liquidation were ordered to be sold out by an order passed by the learned Company Judge. Pursuant to the aforesaid order, plant and machinery and furniture and fixtures as mentioned in Annexures A and B were evaluated through an approved valuer. The approved valuer in his report dated 2nd May, 2003 has given specific details of the plant and machinery examined by him and valued in Part-III of the report. He has mentioned that some of the buildings were lying sealed and quantity and condition of the items had to be reviewed/checked once again.
(3.) After the valuation report was received, an advertisement was taken out by the Official Liquidator after obtaining permission from the learned Company Judge. In the aforesaid sale notice, which was issued by the Official Liquidator, it was mentioned that tenders could be filed by the intending bidders for sale of land and building, plant and machinery and furniture and fixtures for sale on As is where is and whatever there is basis . In paragraph 4 of the sale notice, it was also specifically mentioned that before submitting their tenders, the bidders may inspect the plant and machinery and also furniture and fixtures. What was made available for inspection during the aforesaid period were the assets in the nature of plant and machinery for which evaluation was already done. Therefore, the said plant and machinery was the subject matter of sale for which a tender could be submitted. It was also mentioned in the sale notice that the tenderers should satisfy themselves from the appropriate authorities about the right, title, duty and also dues payable in respect of the said assets and that later on no such objection of any kind would be entertained by the Court.;


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