THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1581 OF 2011 18th November, 2011 Between :- M/s.Allwyn Watches Ltd (In Provl.Liqn) Rep.by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Applicant And The Principal Secretary to Government, Industries & Commerce Department, Government of Andhra Pradesh, Secretariat, Hyderabad and others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1581 OF 2011 ORDER:- This application has been filed under Section 457 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 seeking permission to the Official Liquidator to constitute a Committee with the Officers as nominated by the secured creditor/financial institutions for inspection of the assets i.e., Plant & Machinery and Current Assets situated at Patancheru, Medak District, and to find out the feasibility to re-locate the machinery in one of the identified building there at and estimate the expenditure to be incurred for such shifting and other ancillary reliefs. This Court by an order dated 11-12-2006 made in C.P.No.108 of 2001 appointed the Official Liquidator attached to this Court as Provisional Liquidator of M/s.Allwyn Watches Limited. The Official Liquidator has taken possession of the assets of the Company comprising of land, building, Plant & Machinery and current assets situated at Sy.No.420 and 425, Patancheru, Medak District. The Official Liquidator appointed M/s.National Security Agency to safeguard the assets of the Company in Provisional Liquidation at Patancheru on a monthly salary of Rs.30,200/- w.e.f. 26-2-2007. The action of the Official Liquidator came to be approved by this Court as per orders in C.A.No.430 of 2007 dated 29-3-2007. The Official Liquidator has taken possession of one more unit of the Company in Provisional Liquidation at Penukonda, Anantapur District in the third week of August, 2007. The Official Liquidator appointed M/s.Secret Investigation and Security Services to safeguard the assets of Company at a monthly salary of Rs.10,100/- w.e.f. 26-2-2007. The action of the Official Liquidator came to be approved by this Court as per order dated 29-3-2007 in C.A.No.430 of 2007. With regard to the Plant & Machinery and Current Assets situated at Patancheru, Medak District, the Official Liquidator has not received any offers. Sale of lot No.1 i.e., Land admeasuring Ac.26.30 in Sy.No.425 and 420 at Patancheru, Medak District, along with Buildings and Civil Works came to be confirmed in favour of M/s.NMDC Limited. M/s.NMDC Limited deposited the entire sale consideration. The Official Liquidator has to handover the possession of the land, buildings and civil works situated at Patancheru, Medak District to M/s.NMDC Limited. Unless Plant & Machinery and Currents Assets, which are located in lot No.2, have been relocated, the possession of lot No.1 to M/s.NMDC Limited cannot be effected. Hence, this application has been filed by the Official Liquidator to constitute a Committee with the Officers as nominated by the secured creditor/financial institutions for inspection of the assets i.e., Plant & Machinery and Current Assets situated at Patancheru, Medak District. Hard learned Counsel appearing for the applicant and learned Counsel appearing for the respondents. None of the respondents opposed the relief sought for by the applicant. Indisputably, M/s.NMDC Limited paid the entire sale consideration in respect of lot No.1 i.e., Land admeasuring Ac.26.30 in Sy.No.425 and 420 at Patancheru, Medak District. Plant & Machinery and current assets located in lot No.2 are to be re-located so as to facilitate the Official Liquidator to handover possession to M/s.NMDC Limited. In that view of the matter, the application is ordered permitting the Official Liquidator to to constitute a Committee with the Officers as nominated by the secured creditor/financial institutions for inspection of the assets i.e., Plant & Machinery and Current Assets situated at Patancheru, Medak District, and to find out the feasibility to re-locate the machinery in one of the identified building there at and estimate the expenditure to be incurred for such shifting. Accordingly, the Company Application is ordered. No order as to costs. ________________________ B.Seshasayana Reddy, J 18th November, 2011 smr