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2018 (1) TMI 652 - GUJARAT HIGH COURTSale of the assets and properties of the company in liquidation - Held that:- As considered the contents of the present report with the copy of the supplementary valuation report dated 14.09.2017, as also the minutes of the meeting of the sale committee at Annexure – F, finds that the prayers made in the present report could be granted. Accordingly, it is directed that for sale of the assets and properties of the company in liquidation, the upset price and EMD shall as recommended by the sale committee. The schedule programme for sale of the assets and properties of the company in liquidation shall be as stated above in para-4. The Official Liquidator shall issue advertisement in daily newspapers “Gujarat Samachar” in all editions of the State of Gujarat in Gujarati script and in “Times of India” in English script in Ahmedabad edition for inviting offers for sale of land of the company in liquidation. The Official Liquidator is also permitted to make payment to the concerned Advertising Agency on receipt of the bill from such agency towards advertising expenses. The action taken by the Official Liquidator for deploying 06 (six) security guards of M/s.Shubham Protection Force as per the decision taken by the members of the sale committee held on 25.05.2017 and 14.09.2017 is ratified and the Official Liquidator is permitted to make monthly payment of ₹ 70,200/- inclusive of all taxes to the said security agency for providing security guards to safeguard the assets and properties of the company in liquidation from the funds available with the Official Liquidator in the company’s account.
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