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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
OLR NO. 142 OF 2017 / LIQN. VIII
IN
COMPANY PETITION NO. 743 OF 1990
In the matter of Companies Act, 1 of 1956
And
In the matter of M/s. Mafatlal Engineering
Industries Limited (in liquidation)
M/s.United Metachem Pvt. Ltd. ... Petitioner
Mr.J.P. Sen, Senior Counsel for Official Liquidator.
Mr.G.W.Mattos, Asstt. Govt. Pleader, for the State.
Counsel Mr.Ashish Kamat a/w. Sudeshna Guha Roy and Himank Singh i/b. Vidhi
Partners for the Defendant Nos.10A, 11 and 12 in Suit No.3156 of 1991 and Secured
Creditors of Company (in liquidation).
Ms.Riba Vasudevan i/b. Neeta Karnik for MEI Quotas Welfare Association.
Ms.Deepa Kamat for Kamgar Sangarsh Samiti.
Mr.S.S. Toraskar, S.O. for Courter Receiver.
Ms.Riba Vasudevan i/b. Ms.Neeta P. Karnik, Advocate for Bombay Mazdoor Union.
Mr.Bhavik G.Lalan i/b. Cyril Amarchand Mangaldar for Plaintiff (ICICI Bank Ltd.).
Ms.Yogini Chauhan, Deputy Official Liquidator.
CORAM : S.J. KATHAWALLA, J.
DATED : 16th AUGUST, 2017 P.C.:
1. Heard the Learned Advocates for the parties.
2. Paragraph No.19 of the Terms and Conditions of Sale of the immovable property (land) admeasuring 4,99,445.47 sq.mtrs. belonging to M/s. Mafatlal Engineering Industries Ltd. (In Liquidation) situated at Kalwa, District-Thane to be sold by public auction on 'as is where is and whatever there is basis' shall read as ::: Uploaded on - 18/08/2017 ::: Downloaded on - 28/08/2018 15:58:36 ::: kpd 2 / 2 901-OLR-142-2017.sxw under :-
"19. The sale deed or any other documents of transfer required in respect of the sale property shall be executed within six months from the date of confirmation of the sale by the Hon'ble High Court in favour of the offeror, as directed by this Court."
3. It is clarified that the secured creditors shall also be entitled to submit their offers for purchase of the said land.
4. The reserve price fixed for the sale of land is Rs.1,132 crores.
5. E.M.D. shall be 10% on the reserve price.
6. Prayer clause (c) of the Report is allowed. However, Clause 19 shall be read as set out hereinabove.
7. Report is accordingly disposed off.
( S.J.KATHAWALLA, J. ) ::: Uploaded on - 18/08/2017 ::: Downloaded on - 28/08/2018 15:58:36 :::