SANJEEV PRAKASH SHARMA,J. - (1.) Instant Company Application has been filed by the applicant-Ritika Vegetable Oil Pvt. Ltd. under Rule 9 of the Companies Court Rules, 1959 for offering a bid of Rs. 2,51,00,000/- in respect of the property under auction bearing Plot No.19-B, Old Industrial Area, Alwar (Raj.) ad-measuring 10848 square meters. The application is supported by a Board Resolution of the said Company and has been filed by the authorized representative of the Company.
(2.) The background which requires to be noted in brief is that the respondent-M/s ACE Laboratories Ltd. (company in liquidation) was directed to be wound up and this Court directed the Official Liquidator on 05/07/2018 to publish the sale notice regarding properties of the Company in liquidation. Accordingly a sale notice was published on 17/07/2018 by the Official Liquidator in newspapers i.e. the Times of India (All Editions); Dainik Bhaskar (Delhi Edition) and Himachal Dastak at Himachal Pradesh. The last date of receipt of tender was 13/08/2018 upto 5.00 pm. The reserved price fixed was Rs. 2,35,98,400/- with EMD of Rs. 23,60,000/- with regard to property of the respondent company in liquidation situated at Plot No.19-B, Old Industrial Area, Alwar. The EMD was to be deposited by way of demand draft and the prescribed tender from was available on cost of Rs. 1,000/-.
(3.) A report was submitted to this Court by the Official Liquidator pointing out that the highest bid offered was by Shri Ajay Agarwal for a sum of Rs. 2,36,00,000/- against the reserved price of Rs. 2,35,98,400/-. It was also submitted that the concerned bidder has deposited the EMD while the EMD of unsuccessful bidders was returned. There were two other bidders namely; ECR Buildtech Ltd. Bhiwadi and Shri Dhiraj Poply of Alwar who participated in bid.;