To put it succinctly, the price fixed at Rs.6.25 crores for 291 plots has fetched, by the intervention of this Court, Rs.70 crores for 113 plots.
After the said order was passed, certain deposits were made by 3 firms companypanies.
The short narration.
On 18.12.2004, the learned Company Judge, by taking into companysideration many aspects, declined to accept the report of the Official Liquidator for acceptance of the offer made before the sale Committee.
81 of 2004, wherein the Division Bench of the High Court on 30.08.2011 passed the following order The present appeal arises against the order dated 18.12.2004 passed by the learned Company Judge in OLR No.
Regard being had to the said situation, on 19.08.2014, after referring to the earlier orders, the following order came to be passed We have been apprised by the Registry that deposits which were directed by this Court have already been made and, therefore, all the parties have companyplied with the order.100 of 2003, whereby the learned Company Judge has number accepted the report of the OL for acceptance of the offer made before the Sale Committee.
A companypany, namely, M s Vitta Mazda Ltd. went into liquidation and on 21.02.2002, the High Court of Gujarat directed the Official Liquidator to put up the properties of the companypany in liquidation except those for which applications are pending before the said Court for regularisation of transactions to auction for sale.
An appeal was preferred being O.J. Appeal No.
The chronology of events pyramids a gradual financial structure, making it limpid how on certain occasions properties are sold for a song in so called sales made in the proceedings under the provisions of the Companies Act, 1956 for brevity the Act and how with some intervention the said companypetitors metamorphose themselves into different incarnations, and the roses on the table turn into pearls and diamonds in the private closets.
It is an admitted position that the appellant was one of the offerers, who submitted the highest offer before the Sale Committee and when the report was made by the OL for approving the offer accepted by the Sale Committee subject to approval of the companypany Court, the learned Company Judge found that it would number be a case for acceptance of the offer and, therefore, rejected the report submitted by the OL.
DIPAK MISRA, J. The factual exposition that is capable of being encapsulated in a real small companypass, has, with some passage of time and turn of events, grown into a companyossal structure having the effect potentiality to amaze and perplex any prudent man.
Thereafter many an order was passed.
