2018 (1) TMI 1597 - HC - Companies Law

Possession of vessel/tug by the name of MT Polaris owned by the Defendant company - HELD THAT - This company application is allowed by directing the Official Liquidator to take possession of MT Polaris . The costs for taking such possession and thereafter to man the ship, shall be borne by the Applicant. The Liquidator, after taking such possession, shall allow prospective purchasers to visit and inspect the vessel/tug. The application to come up for further orders on 14 February 2018.

Summary

The Bombay High Court directed the Official Liquidator to take possession of the vessel/tug "MT Polaris" owned by the Defendant company. The Applicant will bear the expenses for taking possession and manning the ship. Prospective purchasers will be allowed to visit and inspect the vessel/tug. The application will be further considered on 14 February 2018.