RAVI HI-TECH LIMITED Vs. B.I.F.R. AND ORS.

LAWS(JHAR)-2011-6-167

HIGH COURT OF JHARKHAND

Decided on June 17,2011

Ravi Hi -Tech Limited Appellant

VERSUS

B.I.F.R. And Ors. Respondents

JUDGEMENT

R.K. Merathia, J. - (1.) I . A. Nos. 1684 and 1789 of 2011: Mr. A.K. Yadav, learned Counsel appearing for the B.S.F.C. and Mr. Nath, learned Counsel appearing for the Allahabad Bank submitted that this I.A. has been filed for confirmation of sale. Mr. Saboo submitted that he has filed I.A. today on behalf of Top Links Motors Pvt. Ltd. inter -alia saying therein that due to lack of knowledge of notice, he could not take part in the sale and that he is ready to offer five lacs rupees more than the highest bidder. On this Mr. Sachin Kumar, appearing for the Official Liquidator submitted that it will be proper that all the three bidders should remain present in the court on the next date so that, the bid is raised and the secured creditors get highest price. Accordingly, Mr. Yadav and Mr. Nath will inform the two bidders namely, RANTEC ITC Pvt. Ltd., Jamshedpur and BMW Industries Ltd. to remain present on the next date for open bid. On that date, the Top Links Motors Pvt. Ltd. will also appear for the said purpose. Mr. Sachin Kumar is allowed to keep the draft of the EMD till the next date.
(2.) REPORTS of Official Liquidator at Flags 20 and 21: Mr. Sachin Kumar, learned Counsel appearing on behalf of the Official Liquidator submitted that Registrar of Companies has already supplied the details of ex -directors, and therefore, in view of the reports dated 8.12.2010 filed on behalf of the Official Liquidator which are at flag 20 and 21, liberty may be given to proceed under Section 454 and 468 of the Companies Act. Heard. Liberty as prayed is allowed. Both the reports stands disposed of. Mr. Sachin Kumar, learned Counsel appearing for the Official Liquidator submitted that simultaneously the Official Liquidator be permitted to publish notice in newspapers inviting claims to save time. On this, Mr. Yadav and Mr. Nath submitted that such process may be kept pending till confirmation of sale or they may be given liberty to file their respective claims against such publication. As agreed between the parties, the Official Liquidator is permitted to publish notice inviting claims in the following newspapers - (i)Gujrat Samachar (Gujrati language) published from Ahmedabad and Baroda; (ii)Dainik Jagran (Hindi language) published from Ranchi; (iii)Hindustan (Hindi language) published from Ranchi; (iv)The Telegraph (English language) published from Kolkata; & (v)The Telegraph (English language) published from Jamshedpur. Mr. Sachin Kumar further pointed out that the following matters have become infructuous - (i)Report dated 1.9.2010 at flag 16, (ii)Supplementary affidavit at flag 22, (iii)I.A. at flag 29; & (iv)Report dated 24.3.2011 at flag 30. Accordingly, office need not place such reports/affidavits/I.As. for orders. Put up this case on 24.06.2011. As prayed, let a copy of this order be handed over to Mr. Sachin Kumar appearing for the Official Liquidator.;

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