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TMI Blog2010 (8) TMI 1084X X X X Extracts X X X X X X X X Extracts X X X X ..... licant Ms. Shachi Mathur Assistant Government Pleader And Mrs Sangeeta N Pahwa for the Respondent ORAL ORDER 1. The Official Liquidator has filed this report, seeking several prayers from this Court. Though the Court has passed several orders from time to time dealing with and granting the prayers made by the Official Liquidator, so far as the prayer regarding confirmation of sale of land si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssue a short advertisement fixing-up the upset price of the property in question at ₹ 1.15 Crores and informing the prospective bidders to deposit EMD at 10% of the upset price and also informing them that inter-se bidding between the bidders will be taken place in the Court on 27th August, 2010. 2. Pursuant to the said order, the Official Liquidator has published advertisement on 20th Augu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cipants namely (i) Citizen Metalloys Ltd. (ii) Mangal Murti Real Estate Pvt. Ltd. and (iii) Machintex Corporation, have at the outset submitted that they do not want to participate in the bidding process. Rest of the participants have agreed to pay the late entry charges and on that condition they are allowed to participate in the inter-se bidding before the Court. After the inter-se bidding, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of the full consideration, the Official Liquidator shall hand over the possession within one week and execute the document as early as possible, preferably within a period of one month from the date of payment of full consideration. 3. The Official Liquidator shall hand over the Demand-Drafts to those three parties who have not participated in the inter-se bidding before the Court, witho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the prewinding- up period and for recovery of the said dues, the Commercial Tax Officer will have to lodge his claim before the Official Liquidator and the amount shall be paid by the Official Liquidator in accordance with the provisions contained in Section 530 of the Companies Act, 1956. On realization of full sale-consideration the Official Liquidator shall immediately start the process for d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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