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TMI Blog2020 (3) TMI 1157X X X X Extracts X X X X X X X X Extracts X X X X ..... ll the shareholders, secured creditors and unsecured creditors of the respondent No.1; 25(AA) Your Lordships may be pleased to revoke the Oral Order dated 11.02.1999 delivered in Company Petition No.198 of 1996, ordering windingup of the Renewable Power Projects Limited and further be pleased to direct the Official Liquidator to handover the possession of assets of the Company along with the Books of Accounts and other records; (B) Your Lordships may be pleased to pass other incidental consequential and supplementary order and directions as may be necessary and deem fit by this Hon'ble Court;" 3. Earlier, the Official Liquidator had submitted his report dated 29.11.2019, wherein it has been stated that, secured creditors of the Company (in liquidation) was the ING Vysya Bank, which is joined as respondent No.3 and later on, respondent No.3 Bank was merged with Kotak Mahindra Bank Ltd., therefore, the Official Liquidator has sought direction against the petitioner to join Kotak Mahindra Bank Ltd. as respondent in the present petition. Learned advocate for the petitioner Mr. M.K. Vakharia, has drawn attention of this Court to AnnexureC and AnnexureD at Page 21 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Survey No.248/1, AhmedabadSurendranagar Highway, village Lakhtar, District Surendranagar and Survey No.485/2, Block No.709, Village Chhapra, District Kheda and thereafter, a compliance report being Official Liquidator's Report No.40 of 1999 was filed before this Court by the Official Liquidator and vide order dated 23.06.1999 passed by this Court in OLR No.40/1999, the matter was disposed of. 7. That, on 03.04.2007, the ExDirector, Shri Kandarp I. Pandya i.e. applicant of Company Petition No.8 of 2015 has filed the Statement of Affairs with the office of Official Liquidator. According to the said Statement of Affairs, the amount due and payable to unsecured creditors and equity shareholders are as under: a) Unsecured Creditors Rs. 1,30,49,087/ b) Equity Shareholders Rs. 2,45,10,000/ 8. That, by order dated 31.01.2000 passed in Company Application No.442 of 1999, this Court was pleased to constitute a sale committee under the Chairmanship of the Official Liquidator and secured creditors as members of the sale committee for sale of the assets and properties of the Company. That, the meeting of sale committee was again convened on 21.04.2004 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ittee to place before the Court the aforesaid offer for confirmation or otherwise. 11. That, by an order dated 28.12.2004 passed by this Court in OLR No.65/2004, this Court was pleased to confirm the sale of land approx. 1289.09 sq. meter situated at Survey No.248/1, AhmedabadSurendranagar Highway, village Lakhtar, District Surendranagar, for Rs. 4.85 lakh in favour of Shri Suryakant S. Patel. Thereafter, upon receipt of the entire purchase consideration from the said purchaser, the OL handed over possession of the land to the said purchase on 29.06.2005. 12. Thereafter, the second creditor ING Vysya Bank moved Company Application No.330/2006 before this Court and that by an order dated 24.08.2006, this Court directed the OL to give advertisement for sale of land of the Company situated at Survey No.485/2, Block No.709, Village Chhapra, District Kheda. The secured creditor ING Vysya Bank vide its letter dated 18.11.2006 requested the OL to convene fresh sale committee meeting for disposal of the land of the Company situated at Survey No.485/2, Block No.709, Village Chhapra, District Kheda and accordingly fresh sale committee meeting was convened on 12.12.2006 and in the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion) for filing Statement of Affairs. Thereafter, the OL filed a Criminal Case against the ExDirectors for nonfiling of Statement of Affairs under Section 454 of the Companies Act, 1956 and the same was disposed of vide order dated 08.03.2010 passed by this Court in Criminal Case No.5 of 2000. That, pursuant to the order dated 18.09.2009 passed by this Court in Criminal Case No.5 of 2000 also directed the ExDirector Shri Kandarp I. Pandya to remain present before the OL for recording of the statement upon the query found by OL based on the Statement of Affairs filed by the ExDirectors of the Company (in liquidation). Accordingly, the OL issued notice to the Ex-Directors to record their statement under rule 130 of the Companies (Court) Rules, 1959. Thereafter, the statement under Rule 130 of Shri Kandarp I. Pandya was recorded on 16.11.2009, the same was also placed before this Court in Criminal Case No.5 of 2000. 17. That, the ExDirector of the Company in liquidation, Shri Kandarp I. Pandya filed one application being Company Application No.109 of 2012 before this Court for revival of the said company in liquidation and vide order dated 01.10.2013 dispose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of winding up order. 21. That, the OL in reply to said letter dated 10.06.2015 received one letter dated 1618.06.2015 from the SubRegistrar, Mahemdabad informed that the Deed executed between the Ex-Director of the Company in liquidation Shri Kandarp I. Pandya and Shri Vipulbhai Ravjibhai Patel is to be canceled only through High Court of Gujarat. 22. That, one Shri Nagjibhai Zanzarbhai Ghanghar filed application being Company Application No.120 of 2015 before this Court to accept the offer of the said applicant of Rs. 68,10,760/ and be pleased to confirm the sale of land being Survey No.485/2, Block No.709, village Chhapra, District Kheda admeasuring 15,479 Sq. Meter of said company (in liquidation) in favour of the present applicant. In the said application, this Court vide order dated 10.04.2015 passed in Company Application No.120 of 2015 rejected the said application and directed the OL to take stock of the matters and file appropriate report for progress in the matter and in case if the property is required to be put to sell, the price offered would also be taken into consideration. Therefore, the OL filed its OLR No.88/2015, whereby, the OL has prayed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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