1 mst IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO.229 OF 2011 IN COMPANY PETITION NO.90 OF 1997 Khade Brothers Petitioner and Anjanaben Devendra Jain Applicant versus The Official Liquidator of M/s.Nidhi Aparels Pvt.Ltd. (In Liquidation) Respondent Mr.C.N.Mehta for applicant. Dr.T.Pandian, Official Liquidator present. Mr.M.S.Shettyar, representative of M/s.Mahavir Industries present. CORAM : S.J.KATHAWALLA, J. DATE : 20th June 2011 PC : 1. In this matter the highest bidder was M/s.Mahavir Industries who had given a bid of Rs.95.00 lakhs. Thereafter the present applicant Ms.Anjanaben Devendra Jain approached this Court with an offer of Rs. 1.05 crores. However, the applicant was first directed to pay to the Official Liquidator all the costs, expenses and charges in connection with or relating to securing the property. The said amount has been paid. Today both the parties i.e. the applicant as well as M.S.Shettyar-representative of M/s.Mahavir Industries are allowed to bid before the Court. The highest offer received is from the applicant of Rs.1.19 crores. The said offer is accepted. The demand draft/banker’s cheque of Rs.1.05 crores tendered on behalf of the applicant is accepted and the Official Liquidator is directed to encash the same. The applicant undertakes to pay the balance amount of Rs.14.00 lakhs to the Official Liquidator within one 2 week from today. The undertaking is accepted. It is made clear that if the applicant fails to pay the balance sum of Rs.14.00 lakhs within the time stipulated, the amount of Rs.1.05 crores shall be forfeited. On payment of balance sum of Rs.14.00 lakhs, the Official Liquidator shall execute all the necessary documents in favour of the applicant and/or her nominee and also hand over possession of the same to the applicant and/or her nominee. The Official Liquidator shall forthwith refund the sum of Rs. 95.00 lakhs to M/s.Mahavir Industries. Accordingly, the company application is disposed of. (S.J.KATHAWALLA, J.)