C/OLR/52/2025 ORDER DATED: 04/09/2025 IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/OFFICIAL LIQUDATOR REPORT NO. 52 of 2025 In R/COMPANY PETITION NO. 362 of 1999 ========================================================== O.L. BHAGYODAYA PROTEINS PVT. LTD. ( IN LIQUIDATION ) Versus NONE ========================================================== Appearance: MS BHOOMI M THAKORE(6237) for the Applicant(s) No. 1 ========================================================== CORAM:HONOURABLE MRS. JUSTICE MAUNA M. BHATT Date : 04/09/2025 ORAL ORDER 1. By way of this report, the Official Liquidator has prayed for the following reliefs:- a) That, this Hon’ble Court may be pleased to take on records the report of M/s. V.V. Patel & Co., Chartered Accountants dated 11.02.2025 along with a statement calculating the admissible claim to the 38 individual creditors of the company under Rule 179 of the Companie (Court) Rules, 1959; and b) This Hon’ble Court may be pleased to permit the C/OLR/52/2025 ORDER DATED: 04/09/2025 Official Liquidator to disburse an amount of Rs. 11,86,478/- amongst 38 creditors of the company as per the report dated 11.02.2025 of M/s. V.V. Patel & Co., Chartered Accountants from the funds available in the account of the said company; and c) For such other and further orders and directions as this Hon’ble Court may consider just and appropriate in the matter may also be passed. 2. Ms. Bhoomi Thakore, Ld. Advocate for the Official Liquidator apprised the fact of the case that upon appointment of the Official Liquidator as Liquidator of the company, the possession of the assets of the company situated at Plot No. 1309, GIDC Metoda-Lodhika, Kalawad Road, Rajkot was taken over by the Official Liquidator. Since there being no secured creditor of the company, a sale committee under the Chairmanship of the Official Liquidator and Registrar (Judicial) as member of the sale committee was appointed for disposal of assets and properties of the said company. 3. After following due procedure for sale of assets of the company, by an order dated 23.10.2008 passed by this C/OLR/52/2025 ORDER DATED: 04/09/2025 Court in Official Liquidator’s Report No. 162 of 2008, the sale of Plant, Machineries including building structure and land situated at Plot No. 1309, GIDC Metoda-Lodhika, Kalawad Road, Rajkot was confirmed in favour of Shri Bhaveshbhai Ravjibhai Bhadaja for sale consideration of Rs. 1.20 Crore. 4. By an order dated 23.01.2009 passed in Company Application No. 657 of 2008, the Official Liquidator was permitted to publish an advertisement inviting claims of all classes of creditors of the company. The Official Liquidator issued an advertisement in newspapers on 13.02.2009 inviting claims from all classes of creditors of the company. In response to the said advertisement, 38 claims were received by the Official Liquidator. 5. By an order dated 31.07.2009, this Court permit the Official Liquidator to avail the services of the Chartered Accountants for verification of the claims so received in response to the advertisement published. 6. The Official Liquidator appointed M/s. V.V. Patel & Co., Chartered Accountants for the purpose of verification of claims received in response to the advertisement published C/OLR/52/2025 ORDER DATED: 04/09/2025 and the said Chartered Accountants vide letter dated 11.01.2010 submitted claim verification report verifying the claims of the 38 creditors of the company and also amount admissible to each creditor. 7. By an order dated 26.04.2010, this Court permit the Official Liquidator to disburse an amount of Rs. 26,865/- to the only workman, Rs. 4,68,888/- to the unsecured creditor and amount of Rs. 89,88,480/- to the share application money holders of the company from the funds available in the account of the said company. 8. That, the fund of Rs. 12,81,906/- is available in the account of the said company. The amount due to the creditors of the company were paid in full and now since the funds are available in the account of the said company, further disbursement as per Rule 179 of the Companies (Court) Rules, 1959 can be made. Therefore, the official Liquidator vide letter dated 20.01.2025 appointed M/s. V.V. Patel & Co., Chartered Accountants, who had verified the claim of the creditors of the company on earlier occasion, to calculate the admissible amount to individual creditors of the company under Rule 179 of the Companies (Court) Rules, 1959. C/OLR/52/2025 ORDER DATED: 04/09/2025 9. M/s. V.V. Patel & Co., Chartered Accountants vide letter dated 11.02.2025 submitted report along with statement showing amount admissible to 38 creditors of the company. As per the said statement an amount of Rs. 11,86,478/- can be disbursed amongst 38 creditors of the company. 10. It is stated in the report that the Official Liquidator is having funds of Rs. 12,81,906/- in the account of the said company and as per the report dated 11.02.2025 of the Chartered Accountants and statement annexed with the said report, an amount of Rs. 11,86,478/- can be disbursed amongst 38 creditors of the company out of the funds available in the account of the said company. Thus, the Official Liquidator has sought permission of this Court to disburse the said amount amongst the 38 creditors of the company on filing of the undertaking and necessary documents. 11. Heard Ms. Bhoomi Thakore, Ld. Advocate for the Official Liquidator and in fact that there is no secured creditor of the company, the prayers made by the Official Liquidator disserves to be granted and is accordingly granted. 12. The Official Liquidator is directed to disburse an amount C/OLR/52/2025 ORDER DATED: 04/09/2025 of Rs 11,86,478/- amongst 38 creditors of the company, as per the statement annexed with letter dated 11.02.2025 of M/s. V.V. Patel & Co., Chartered Accountants on the usual terms and conditions of the disbursement made by the Official Liquidator to the creditors of the company. In terms of the aforesaid orders, the present report of the Official Liquidator stands disposed of. (MAUNA M. BHATT,J) NAIR SMITA V./10 Original copy of this order has been signed by the Hon'ble Judge. Digitally signed by: SMITA VINU NAIR(HC00186), PRINCIPAL PRIVATE SECRETARY, at High Court of Gujarat on 04/09/2025 15:33:53