Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2010 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (9) TMI 233 - HIGH COURT OF GUJARATWinding up - Overriding preferential payments - Held that:- Here in the present case neither the applicant-bank nor the official liquidator has acted promptly and accurately in the matter. The court, therefore, thinks it fit and proper that instead of handing over the possession to the applicant-bank, through the official liquidator, the court itself undertakes sale of the property in question with the assistance of the applicant-bank as well as the official liquidator and chock out the detail of programme and procedure. The official liquidator is directed to get the valuation of the property in question and, thereafter, invite offers from the interested purchaser by issuance of public advertisement. For this purpose, a sale committee is ordered to be constituted wherein the applicant-bank is one of the members of the sale committee and the official liquidator be convener.All those offers received by the office of the official liquidator shall be put into sealed cover and it should be placed before the court and auction of the property shall take place on 29-10-2010.
|