-: 1 :- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.1015 OF 2008 In COMPANY PETITION NO.1023 OF 2003 In the matter of Triton Overwater Transport Agency Limited Security and Personnel Services Private Limited And Kotak Mahindra Bank Limited : Applicant ... Mr.Fazal Sayaad i/b. M/s.Manilal Kher Ambalal & Co., for the applicant. Mr.P.Ramarao, Official Liquidator (present). ... CORAM : S.A. BOBDE, J. DATE : AUGUST 30, 2008. P.C. 1. Since the hovercrafts in question could not be sold in spite of best efforts made at public auction, the applicant, who is a secured creditor, requests this Court to permit it to bring any person who might be willing to purchase the hovercrafts. Accordingly, this Court passed an order to that effect on 30.11.2006 to permit the -: 2 :- applicant to do so. 2. By the present application, the applicant has pointed out the various circumstances in which the hovercrafts could not be sold. In paragraph 10, they have stated that they have received in all four offers from the respective purchasers/parties out of which an offer for Rs.25,02,000/- submitted by M/s.Pankaj A. Joshi is the highest. They have further stated that the condition of the hovercrafts is getting deteriorated. The applicant is also incurring huge expenses in the form of security charges paid to security agencies for the purpose of safeguarding the hovercrafts. 3. Having regard to the aforesaid circumstances and after hearing the Official Liquidator, it is appropriate that the offer of M/s.Pankaj Joshi for Rs.25,02,000/- for the two hovercrafts in question is accepted. 4. Company Application is allowed in terms of prayer clause (a). S.A. BOBDE, J.