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Application under section 446 of the Companies Act, 1956 for possession of imported articles, ownership of goods in liquidation, authority to sell goods, payment of customs duty, jurisdiction of the court. Analysis: The judgment pertains to an application under section 446 of the Companies Act, 1956, seeking an order for the possession of imported goods belonging to a company in liquidation. The goods, imported by the company, remained uncleared at Bombay Port Trust Docks. Following a winding-up order, the property of the company vested in the court, as per section 456 of the Act. The court emphasized that all matters, including claims, are to be decided by the company judge exclusively. The Bombay Port Trust Docks have the authority to sell goods under the Major Port Trusts Act, 1963, but only after providing notice to the owner, in this case, the company in liquidation. The court highlighted that the customs duty claim of Rs. 31,000 can be settled by the official liquidator using available funds. However, the claim of the port authorities is yet to be finalized and must be addressed when claims are invited. The judgment further directed that the Assistant Manager (Sales) of Bombay Port Trust Dock, under section 61 of the Major Port Trusts Act, 1963, may sell the goods in the presence of the official liquidator, ensuring extensive publicity for obtaining a fair price. The sale would be subject to court confirmation, and the sale proceeds would be remitted to the official liquidator. The court clarified the distinct powers under subsections (1) and (2) of section 446, highlighting the court's jurisdiction to dispose of suits or proceedings involving the company during liquidation. The court opted for the sale of goods by the port authorities in the presence of the official liquidator, rather than direct disposal by the liquidator, to ensure transparency and maximize proceeds. In conclusion, the application was allowed, permitting the official liquidator to settle the customs duty claim and authorizing the sale of goods by the port authorities under court supervision. The judgment outlined the process for selling the goods, remitting proceeds to the official liquidator, and filing claims as necessary. The official liquidator was instructed to coordinate with the port authorities for the sale in compliance with the court's order.
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