Plg Power Ltd vs Mne Components India Private Limited
2025 Latest Caselaw 1548 Cal/2

Calcutta High Court

Plg Power Ltd vs Mne Components India Private Limited on 20 August, 2025

OD-5 & 41

                             ORDER SHEET
                    IN THE HIGH COURT AT CALCUTTA
                         ORIGINAL JURISDICTION
                             ORIGINAL SIDE

                            IA NO: CA/15/2025
                              In CP/271/2012

                  IN THE MATTER OF: PLG POWER LTD
                                 AND
                MNE COMPONENTS INDIA PRIVATE LIMITED
                                  VS
                  THE OFFICIAL LIQUIDATOR AND ANR.

                                     &

                            IA NO: CA/14/2024
                              In CP/271/2012

                   IN THE MATTER OF: PLG POWER LTD
                                  VS
                         OTO AUTOMATION S.R.L

  BEFORE:
  The Hon'ble JUSTICE KRISHNA RAO
  Date: August 20, 2025.

                                                                        Appearance:
                                                           Mr. Shakya Sen, Sr. Adv.
                                                     Mr. Debrup Bhattacharjee, Adv.
                                                          Mr. Steven S. Biswas, Adv.
                                             ... for the MNE Components (I) Pvt. Ltd.

                                                          Mr. Mainak Bose, Sr. Adv.
                                                              Mr. Rahul Singh, Adv.
                                           ... for the Traymbkeshwar Foods Pvt. Ltd.

                                                      Mr. Ranajit Chowdhury, Adv.
                                                      Mr. Sudipto Chowdhury, Adv.
                                                        Ms. Sampoorna Saha, Adv.
                                                       ... for the Official Liquidator


         1.

Applicant namely, MNE Components India Private Limited has filed

an application being CA/15/2025 praying for an order for accepting a bid of

the applicant of Rs.10 crore as the highest bid in respect of the sale of the

assets and properties of the company in liquidation. As per the order passed by

this Court, the Official Liquidator has published a notice of sale of the

properties and the assets of the company in liquidation and in terms of the

said notice, one firm namely, Trayambkeshwar Food Private Limited had

participated in the said tender process and is the highest bidder quoted

Rs.8,74,31,247/-. The applicant namely, MNE Components India Private

Limited has not participated in the said tender process but now he has come

with the proposal of Rs.10 crore.

2. Learned counsel for the applicant has argued the matter and relied

upon two judgments reported in 2000 (6) SCC 69 and 2000 (6) SCC 79.

3. Learned counsel for the Trayambkeshwar Food Private Limited

prays for time to go through the said judgments and to make appropriate

submissions on the next date fixed.

4. In view of the above, the case is adjourned.

5. The Official Liquidator is also directed to issue notice upon the

Secured Creditor i.e., Chief Manager, Punjab National Bank, Zonal Sastra

Centre, Mumbai, PNB Pragati Tower, 1st Floor, Plot No.C-9, G-Block Bandra

Kurla Complex, Bandra (E), Mumbai -400051, if they want to appear in the

proceeding,then they shall have appear before this Court either in-person or

through Advocate or through virtual mode on 3 rd September, 2025.

6. Let the matter appear on 3rd September, 2025.

(KRISHNA RAO, J.)

S.De