THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.245 of 2008 28th October, 2011 Between :- Industrial Development Bank of India Ltd., Rep.by Dy.General Manager, Chapel Road, Hyderabad and others .. Applicants And M/s.Vishnu Priya Industries Ltd (in Liqn) Rep.by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad and others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.245 of 2008 ORDER:- This is an application filed by the applicants seeking the following relief:- “to order for sale of assets i.e., Land, Building, Plant and Machinery in two lots, the Land and Buildings as one lot, and the Plant and Machinery as another lot by fixing minimum upset price at the Fair Market Value as per the report of the Valuation.” This Court by order dated 16-8-2011 directed the applicants to get the lands which are situated outside the factory premises valued and submit the valuation report. Accordingly, the applicants got the Valuation in respect of the Land, Building, Plant and Machinery and Office Furniture. As per the applicants, the value of the properties are detailed hereunder:- Land .. .. Rs. 3,55,20,000/- Buildings .. .. Rs.10,12,97,417/- Plant & Machinery.. .. Rs. 4,48,46,000/- Total .. .. Rs.18,16,63,000/- This valuation is exclusive of the imported machinery over which the Central Excise Department has a charge. In that view of the matter, the applicants are permitted to go ahead with the sale of the Land, Buildings, Plant & Machinery through the Official Liquidator fixing the minimum upset price as indicated above. The applicants have to get the terms and conditions of the sale to be approved before putting the property to sale. Accordingly, the Company Application is ordered. ________________________ B.Seshasayana Reddy, J 28th October, 2011 smr