C.P. No. 127 of 2011 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH C.P. No. 127 of 2011 (O&M) Date of Decision: 8.12.2011 M/s Prema Knit Fab Pvt. Ltd. (in Liquidation) ....Petitioner. Versus Central Bank of India ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. PRESENT: Mr. Parveen Gupta, Advocate with Mr. D.P. Ojha, Official Liquidator. Mr. C.S. Pasricha, Advocate for the respondent. AJAY KUMAR MITTAL, J. 1. This is a petition under Section 457(1)(c) of the Companies Act, 1956 read with Rules 9, 139, 272, 273, 274 of the Companies Court Rules, 1959 seeking permission of this Court for issuance of advertisement for the sale of movable properties and actionable claims of the company (in liquidation). 2. Notice of this petition was issued to the respondent. Reply has been filed on behalf of the respondent wherein no objection has been raised to the prayer being sought that the movable property be ordered to be advertised for sale in accordance with the Act and Rules. 3. After hearing the learned counsel for the parties and in view of no objection given by learned counsel for the respondent, the present C.P. No. 127 of 2011 -2- petition is allowed and the Official Liquidator is permitted to sell the movable properties and actionable claims of the company (in liquidation), subject to supervision and confirmation of this Court. The Official Liquidator is allowed to advertise the sale notice as well as claim notice in the newspapers “The Tribune, English (Punjab Edition)” and “Punjab Kesri, Hindi (Punjab Edition)”. The advertisement expenses shall be borne by the secured creditor, i.e. Central Bank of India. Disposed of. December 8, 2011 (AJAY KUMAR MITTAL) gbs JUDGE