1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY APPLICATION NO.776 OF 2009 IN COMPANY PETITION NO.412 OF 1996. Papco Investments Corporation. ..Original Petitioners. And BGM Industrial Services. ..applicants. v/s. Official Liquidator. ..Respondent. .... Mr. H.M.G. Murthy, applicants, present in person. Ms.K.A. Shah, i/b. A.G. Shah, for Petitioners. Mr. Kedar Dighe, i/b. Ashok V. Jain, for Official Liquidator. Mr. S. Chandana Muttu, Deputy Official Liquidator, present. .... CORAM : S.J.KATHAWALLA, J. DATE : 5TH AUGUST 2009. P.C. This application is taken out by the applicants to quash and set aside the decision of the Official Liquidator contained in his letters dated 3 rd December 2008 and 30 th March 2009 and direct the Official Liquidator to forthwith remove the seal affixed on 7 th May 1999 on the office premises owned by the applicants, i.e. at 66, Kakad Industrial Estate, L.J. Cross Lane, Mahim, Mumbai-400 016 2 (the said property), and hand over the possession of the said premises to the applicants alongwith all the furniture and fixtures lying therein. 2. I have heard H.M.G. Murthy, the partner of the applicants-firm, the learned Advocate representing the Official Liquidator and the learned Advocate for the original petitioners and pending further orders of this Court, the following workable order is passed :- (i) The Official Liquidator shall hand over possession of the said property to the applicants within a period of 2 weeks from today. However, the applicants shall not object to the Official Liquidator storing records pertaining to the company in liquidation in a cupboard placed at the suit premises, the keys of which will remain only with the Liquidator. The Official Liquidator shall have access to the said cupboard on all working days during working hours, i.e. 10.00 a.m. to 5.00 p.m. (ii) The Official Liquidator shall before breaking open the seal, give notice to the Advocates for the petitioning creditor as 3 well as the applicants and shall thereafter open the Office, prepare an inventory of the records pertaining to the company in liquidation and lying in the said office, and store such records in the said cupboard in the presence of the representatives of the noticees. (iii) The applicants are restrained by an order of injunction of this Court from encumbering, parting with possession, entering into leave and license agreements and/or creating any third party rights in any manner whatsoever, in respect of the said property. (iv) The applicants shall settle all the disputes with the society pertaining to its pending dues within a period of 4 months from today and shall continue to pay all the monthly outgoings and other sums payable to the society as per the bills raised by the society. (v) Upon the Official Liquidator finalising all the accounts / investigations qua the company in liquidation, the Official Liquidator shall submit his report to this Court pointing out therein whether the Liquidator has laid his hands on any material/ evidence 4 showing that the said property is an asset of the company or is an asset acquired from the funds of the company. This Court shall thereafter pass final orders in respect of the said property after hearing all concerned. (vi) Liberty to apply. 3. Company Application stands disposed of. [ S.J.KATHAWALLA, J. ]