Omkara Asset Reconstruction Pvt. ... vs Barclays Bank Plc(Pet) And Core ...
2021 Latest Caselaw 17469 Bom

                                                    28-IA(L)-8383-2021.doc




               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                  ORDINARY ORIGINAL CIVIL JURISDICTION

                  INTERIM APPLICATION (L) NO. 8383 OF 2021
                                   IN
                     COMPANY PETITION NO. 694 OF 2014

Omkara Asset Reconstruction Private Limited                  .. Applicant

IN THE MATTER BETWEEN:

Barclays Bank PLC                                           .. Org Petitioner

     Versus

The Official Liquidator of Core Education
And Technologies Limited                                    .. Respondent


Anshul Anjarlekar i/b. Aarti Suvarna for the Applicant.
Mahendhar Aithe for the Official Liquidator.


                               CORAM :- B.P.COLABAWALLA, J.

                               DATE     :- 15th DECEMBER, 2021.

P. C.:


1.                Mentioned. Taken out of turn.

2. The above Interim Application ("IA") is filed seeking the

following reliefs:

(a) That this Hon'ble Court may be pleased to order and direct the

Official Liquidator, High Court, Bombay, to handover quiet and

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vacant possession of the premises/ property namely : Office no. 1

to 7, adm. 6000 Sq. ft (Build up area), 10 th floor, Lotus Nilkamal

Business Park, Plot No. C -18, C-19, C- 20 & C- 21, survey no.

41, CTS No. 639 to 642 Andheri Mumbai to the applicant there

in.

(b) For ad-interim reliefs in terms of prayer (a), herein above

(c) For cost of the Application

(d) For such further and other relief as the nature and the

circumstances of the case may require.

3. The Official Liquidator has filed Affidavit in reply dated 14th

December, 2021, wherein it is stated that if this Court is inclined to

allow the IA, the Applicant be put to certain Terms and Conditions. I

have perused the IA and Affidavit in reply filed by the Official Liquidator

and have heard the counsel for the parties. The Applicant is a secured

creditor and is entitled to stand outside winding up and is entitled to sell

the secured assests under the provisions of the SARFAESI Act, 2002.

4. The learned counsel appearing on behalf of the Applicant

has fairly stated that the applicant will strictly comply with the

conditions sought for by the Official Liquidator.

5. In view thereof, I pass the following order :-

(a) The interim application is allowed in terms of prayer clause

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(a) and Official Liquidator is directed to handover the immovable property situated at Lotus Business Park, 10 th floor, C-21, Dalia Industrial Estate, Off Link Road, Opp Sab TV, Andheri (W), Mumbai, within a week from today.

(b) The Applicant is directed to strictly adhere to the provisions of SARFAESI Act, while disposing of the property mentioned in the prayer clause (a) and will give the requisite notices to the Official Liquidator, as it would have been required to be done to the borrower namely, the Company (In Liquidation).

(c) The Applicant is directed to submit a duly notarized undertaking within a week to the Official Liquidator to bring back the proportionate share of the amount due to the workmen under Section 529A of the Companies Act, 1956 and also the Provident Fund dues as per the Judgment passed by the Supreme Court in the matter of Employees Provident Fund Commissioner V/s. Official Liquidator of Esskay Pharmaceutical (2011) 10 Supreme Court Cases 727 as and when demanded by the Official Liquidator.

(d) The Applicant is directed to keep the movables lying in the property situated at Lotus Business Park, 10th floor, C-21, Dalia Industrial Estate, Off Link Road, Opp Sab TV, Andheri (W), Mumbai until disposed by the Official Liquidator, And

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(e) The Official Liquidator is permitted to value the movables lying at Lotus Business Park, 10 th floor, C-21, Dalia Industrial Estate, Off Link Road, Opp Sab TV, Andheri (W), Mumbai though panel valuer and is permitted to pay the valuation charges as per the invoice of the valuer.

6. The above Interim application is disposed of in the

aforesaid terms. However, there shall be no order as to costs. may

require.

7. All parties to act on an authenticated copy of this order

digitally signed by the Personal Assistant /Private Secretary/Associate

of this Court.

(B. P. COLABAWALLA, J.)

Digitally signed by GANESH GANESH SUBHASH SUBHASH LOKHANDE LOKHANDE Date:

2021.12.15 18:52:45 +0530

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