OMKARA ASSETS RECONSTRUCTION Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) This Interim Application seeks an order of this Court to transfer the Company Petition No.317 of 2012 to the National Company Law Tribunal (the "NCLT"), Mumbai, pursuant to 5 th proviso to Sec. 434(1)(c) of the Companies Act, 2013.

(2.) When the matter was listed on 21 st July 2023, the Official Liquidator was directed to file his response. Thereafter, the Official Liquidator has filed his reply dated 12 th September 2023 submitting that the Official Liquidator had issued statutory notices dated 2 nd November 2017 to all concerned authorities and also issued notices under Ss. 454, 468 of the Companies Act, 1956 and notice under Rule 130 of the Companies (Court) Rules 1959 (the "said Rules") to all ex-directors of the company in liquidation. That, the Official Liquidator had fixed a meeting on 9 th November 2017 with all the ex-directors for personal interview under Rule 130 of the said Rules and another meeting for discussion with all concerned parties regarding the disclosure of the details of the properties owned by the company in liquidation and to decide the modalities for taking possession of the movable and immovable assets along with books of accounts and records of the company in liquidation. However, only one ex-director came for the said meeting. It is submitted that in the said meeting, Mr.Kumar Bhansali (ex-director), Rushabh Thacker, Advocate for Kumar Bhansali and Dinesh Bhatia, Advocate for Edelweiss Asset Reconstruction Company Limited instructed by Manilal Kher Ambalal and Company, Shashwat Singh (senior manager) for Invent Assets Securitization and Reconstruction Private Limited, Mr.Manin Lalwani (Chartered Accountant) for ex-director, Mr.Suresh Choudhary of Canara bank were present. That, thereafter, on 6/11/2017, the Official Liquidator took possession of the registered office of the company, which Mr.Khan, learned Counsel for the Official Liquidator submits has been handed over to Edelweiss Asset Reconstruction Company Limited pursuant to order dtd. 23/1/2018 passed in Company Application Lodging No. 606 of 2017.

(3.) Mr.Khan, learned Counsel for the Official Liquidator would submit that possession of the other properties referred to in the affidavit have already been taken over by Edelweiss Asset Reconstruction Company Limited, as a secured creditor, pursuant to Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) proceedings and that, at present, the Official Liquidator is not in possession of any of the properties of the company.