M/S.Twin Cities Permanent Fund Ltd., (In Liqn.) v. -

IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH

AT HYDERABAD (Original Jurisdiction) WEDNESDAY, THE FOURTH DAY OF DECEMBER TWO THOUSAND AND THIRTEEN PRESENT THE HON'BLE SRI JUSTICE VILAS V. AFZULPURKAR COMPANY APPLICATION No.1205 of 2013 IN COMPANY PETITION Nos.169 AND 183 OF 2009 Between M/s. Twin Cities Permanent Fund Ltd., Hyderabad. ...APPLICANT Counsel for the Applicant: MR. M. ANIL KUMAR FOR OFFICIAL LIQUIDATOR The Court made the following:

ORDER:

This application is filed by the Official Liquidator seeking permission to sell the office furniture, whose estimated value, as per the valuers report, is aggregating to Rs.17,150/-.

2. The sale of items of the aforesaid office furniture is proposed to be conducted by the Official Liquidator through public auction by way of distribution of Sale Notice i.e. hand bills instead of paper publication. The proposed draft sale notice, terms and conditions and tender form are filed as annexures - B, C and D whereunder the minimum upset price is fixed at Rs.17,150/- for sale of items in one lot with Earnest Money Deposit of Rs.2,000/- refundable without interest and cost of Tender Form and Terms

and Conditions is Rs.100/- by way of cash non-refundable.

3. In view of the above, the Official Liquidator is permitted to sell the aforesaid office furniture items, as per the list in para 4 of the application, in terms of sale notice and the terms and conditions of tender annexed as B, C and D respectively on as is where is basis.

The Official Liquidator is permitted to approach this Court for confirmation of the highest bid.

The company application is accordingly ordered. There shall be no order as to costs.

_____________________ VILAS V. AFZULPURKAR, J December 4, 2013 DSK