THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.747 of 2011 ORDER: This application has been filed by the Official Liquidator representing M/s Sri D.S.M. Chit Fund (P) Limited (in Liqn.) under Section 457(1)(c) of the Companies Act, 1956 r/w Rule 9 and 11(b) of the Companies (Court) Rules, 1959 seeking permission to sell movable items available at Flat No.M-4, H.No.1-8-526, Jatkar Bhavan, Chikkadpally, Hyderabad as per the valuation report enclosed herewith and marked as Annexure-B. This Court by order dated 15.10.2008 made in C.P.No.25 of 2008 directed for winding up M/s Sri D.S.M.Chit Funds (P) Limited and appointed the Official Liquidator. The Official Liquidator after obtaining permission from this Court, as per orders in C.A.No.72 of 2009, broke open the locks affixed at the company’s office under intimation to the police authorities and conducted inventory of the items therein. The Official Liquidator moved an application being C.A.No.777 of 2010 for appointment of an auditor for valuation of the office furniture and equipments of the company (in liquidation) lying at Flat No.M4, H.No.1-8-526, Jatkar Bhavan, Chikkadpally, Hyderabad. The said application came to be ordered on 05.10.2010 appointing M/s K.Dhanapathi Rao and Associates, a registered Chartered Valuer. Accordingly, the said valuer taken up the work and submitted their valuation report in sealed cover with the office of the Official Liquidator. The Official Liquidator has been permitted to receive a copy of the valuation report and directed to take further steps for sale of the assets as per orders in C.A.No.172 of 2011. Hence, this application. Heard the learned counsel appearing for the applicant and perused the affidavit filed in support of the application. As seen from the inventory list, there are 63 items. These items include two sofa sets and two almyrahs, fridge, ceiling fans, air cooler etc., The market value assessed at Rs.13,690/- appears to be reasonable. The Official Liquidator has to indicate the up set price in the auction sale as Rs.13,690/-. Subject to the modification of the up set price indicated in the draft sale notice, this application is ordered. _____________________ B.SESHASAYANA REDDY, J Dt. 12th July, 2011 Note: Issue CC in three days. (B/o) PNV