STERLING BASIC ORGANICS LTD Vs. GAUTAM KANTHARIA

JUDGEMENT

(1.) Heard Mr. Jeet J. Bhatt, learned counsel for the applicant Official Liquidator of M/s. Sterling Basic Organics Ltd. (in liquidation).

(2.) Vide order dated 18.07.2018 passed by this Court in Official Liquidator's Report No.142/2007, this Court was permitted to carry out the formalities for disposal of the immovable properties of the Company (in liquidation) and has provided as under:

(3.) Accordingly, the Official Liquidator gave an advertisement in the newspaper of Gujarati daily namely "Gujarat Samachar", in Ahmedabad, Rajkot, Vadodara, Surat and Bhavnagar editions and thus, as per the order dated 18.07.2018 passed by this Court, sale proclamation was advertised extensively throughout the State of Gujarat. As per the schedule fixed, the matter was kept today for opening the offers received and auction/inter-se bidding. The Official Liquidator has declared before this Court that total 6 (six) bids have received, which were submitted by learned counsel for the Official Liquidator before this Court in a sealed cover.