C/COMA/31/2025 ORDER DATED: 21/08/2025 IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/COMPANY APPLICATION NO. 31 of 2025 In R/COMPANY PETITION NO. 154 of 1998 ========================================================== OMKARA ASSETS RECONSTRUCTION PRIVATE LTD Versus OFFICIAL LIQUIDATOR OF M/S KRISHNA PLASTOCHEM LTD. (IN LIQN) & ANR. ========================================================== Appearance: MR RAJU KOTHARI for MR ANIP A GANDHI(2268) for the Applicant(s) No. 1 MS BHOOMI THAKORE for OFFICIAL LIQUIDATOR for the Respondent(s) No. 1 MS MOHINI J BHAVSAR(3071) for the Respondent(s) No. 2 ========================================================== CORAM:HONOURABLE MRS. JUSTICE MAUNA M. BHATT Date : 21/08/2025 ORAL ORDER 1. This application is filed with the prayer to permit the applicant to be substituted in place of Stressed Asset Stabilization Fund. 2. Heard learned advocate Mr.Raju Kothari for the applicant, learned advocate Ms.Bhooki Thakore for respondent No.1 and Ms.Mohini Bhavsar for respondent No.2. C/COMA/31/2025 ORDER DATED: 21/08/2025 3. Learned advocate Mr. Kothari for the applicant submitted that in view of the assignment of debt of respondent No.2-Company to the applicant, this application is filed seeking substitution of the applicant in place of respondent No.2. Learned advocate referred to various clauses of assignment deed dated 31.08.2024 (Annexure B page 11). By referring to various clauses, learned advocate submitted that in view of assignment deed dated 31.08.2024, in favour of present applicant, which has not been denied by respondent No.2 as also Official Liquidator, the substitution prayed for, deserves to be allowed. Accordingly, Official Liquidator may be directed to change their record once the substitution is allowed by incorporating the name of applicant in place of respondent Nos. 4. Considering the submissions and noticing the deed of assignment dated 31.08.2024 which has not been disputed by respondent No.2 as also the office of Official Liquidator, the present application is allowed directing substitution of applicant in place of respondent No.2 – Company. 5. Office of Official Liquidator is also directed to make necessary change in their record. With this, the application is disposed of as allowed. (MAUNA M. BHATT,J) NAIR SMITA V./07 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 21/08/2025 17:38:08