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TMI Blog2013 (10) TMI 672X X X X Extracts X X X X X X X X Extracts X X X X ..... the account the company, however if the OL provided the task of issuing advertisement then in absence of these details the exercise may not yield any result – Several instructions were issued to the OL. - Official Liqudator Report No. 124 of 2011 - - - Dated:- 18-1-2012 - K. M. Thaker,J. MS Amee Yajnik for Applicant. MR KM Parikh for Respondent. ORDER 1. Heard Ms. Yajnik, learned advocate for the OL. 2. Ms. Yajnik, learned advocate for the OL has placed on record a statement / summary giving general / broad details and description of 11 properties which are tentatively found to be properties of the company (in liquidation). She has submitted that the OL's claim is described as tentative conclusion because the deta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties inasmuch as neither any care to examine the title ownership and / or revenue record appear to have taken nor actual measurement of the properties in question at the time of taking possession appear to have been taken. Any panchnama also does not appear to have been drawn at the time of taking possession. If at all any panchnama are drawn the report does not mention details nor the copies are placed on record. 4. The Court is at pains to mention that this is not the first case in which such defects are noticed. In cases more than one such defects are noticed and have been informed to the OL, however any improvement is not reflected in the report which are being placed in most of the matters. Therefore, it appears that it is necess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... py of the relevant Forms of the revenue record e.g. form No.6, 8, 7x12 etc. or municipal property card or municipal tax bill etc. (6) At the time of taking possession of any property / asset of the company particularly land, building or any other immovable or constructed properties / assets, panchnama must be drawn and the OL must get exact measurement taken by expert body like DILR at the time of taking possession of the property and the panchnama as well as report of the OL regarding the possession must reflect measurement of the property in question as well as its description, location etc. (7) When the valuer is assigned the task to carry out the work of valuation of the property, he should be asked to independently take measurement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issued, said advertisement should contain exact description including measurement, location, situation etc. of the property in question and the details as to whether there are any encumbrance, encroachment, attachment order etc., also should be mentioned clearly in the advertisement so as to avoid any subsequent dispute with regard to the possession, and / or measurement and title ownership of the property in question. (13) Periodical report from the security agency should be called for and the said report must contain detailed description of the properties under their supervision and the inventory. The following documents are also required to be placed on record of the Court. (1) Chronology of the dates from the time of presentatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of theft and to supply the list of persons employed from time to time; (13) Number of petitions, company applications, OLRs filed by the office of OL, secured creditors or workers along with orders passed thereon; (14) Any correspondence / complaints received from any party including workers and secured creditors regarding the company in liquidation; (15) Details of any property sold, proceeds realized, how invested by the OL and details of disbursement with corresponding orders of the Hon'ble High Court; (16) Details of litigation by workers either in Civil Courts or labour Courts and whether the OL has appeared in any matters and also the matters pending in DRT and whether appearance caused or not; 5. So far as the present repo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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