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2023 DIGILAW 2537 (ALL)

Association v. Incan Group of Companies

2023-11-07

PIYUSH AGRAWAL

body2023
JUDGMENT Piyush Agrawal, J. Heard Shri Rajnath N. Shukla, counsel for the Official Liquidator and Shri Gyan Prakash, DSGI, learned Senior Advocate assisted by Shri Sanjay Kumar Yadav, counsel for the CBI. 2. It has been brought to the notice of this Court by counsel for the Official Liquidator that while passing the order dated 15.01.2003, the Court directed to Central Bureau of Investigation to register the case against the Ex-Directors and investigate the matter in detail. Counsel for the Official Liquidator submits that the outcome of the same is not known. 3. On the last date fixed, counsel for the Official Liquidator was directed to intimate in writing to the learned Deputy Solicitor General of India to be present. 4. Today, when the matter is taken up, Shri Gyan Prakash, DSGI, learned Senior Advocate assisted by Shri Sanjay Kumar Yadav is present for CBI. 5. Counsel for the Official Liquidator is directed to provide one complete order set of order dated 15.01.2003 to follow the matter and inform the Court on the next date fixed. 6. List on 7.12.2023 in Chamber at 2:00 PM. 7. When the matter is next listed, name of Mr. Sanjay Kumar Yadav (A/S0253/2012) be shown in the cause list. Ref:- Official Liquidator Report No. 364 of 2023 8. Heard Ms. Sanyukta Singh, learned counsel for the highest bidder and Shri Rajnath N. Shukla, learned counsel for the Official Liquidator. 9. The matter was fixed for inter-se bidding. The second highest bidder namely M/s Mukti Enterprises submits that he does not want to participate in the inter-se bidding and he withdraws his right for inter-se bidding. 10. M/s Harshika Infrastructure Private Limited also states the aforesaid fact and wants to withdraw it. 11. Counsel for the highest bidder-M/S Flavuro Foods Pvt. Ltd. submits that he is not interested in enhancing the bid. 12. In view of the above, let the Official Liquidator may re-advertise the property in question after submitting a detailed report. 13. List this case on 30.11.2023 in Chamber at 2:00 PM for submitting the report with regard to advertisement. 14. Since the highest bid has already come of Rs. 11,68,41,205/-, the same shall be fixed as reserved price.