signed by MEERA MEERA MAHESH MAHESH JADHAV IN THE HIGH COURT OF JUDICATURE AT BOMBAY JADHAV Date:

20 25.11.24

12:03:01 ORDINARY ORIGINAL CIVIL JURISDICTION +0530 IN ITS COMMERCIAL DIVISION INTERIM APPLICATION NO. 2797 OF 2025 IN COMPANY PETITION NO. 468 OF 2013 Kumar Motors Pvt. Ltd.

Through Its Managing Director Shri Rajiv Nair ...Applicant Versus Official Liquidator Of Kumar Motors Pvt. Ltd.

Bombay High Court & Anr ...Respondents WITH OFFICIAL LIQUIDATOR REPORT NO. 74 OF 2024 IN COMPANY PETITION NO. 468 OF 2013 WITH INTERIM APPLICATION NO. 2917 OF 2025 IN COMPANY PETITION NO. 468 OF 2013 -----

Mr. Aditya Pimple a/w Mr. Aakash Joshi and Mr. Amarjit Prasad for Applicant in IA/2797/25.

Mr. Kshitij Parekh a/w Mr. Vinod Kothari i/b Apex Law Partners in IA/2917/25 for Applicant.

Mr. Rushabh Sheth for Official Liquidator.

Mr. Stayajit Roul, Official Liquidator present.

Mr. J. P. Gautam, Deputy Official Liquidator present.

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CORAM : ARIF S. DOCTOR, J.

DATE : 20th NOVEMBER, 2025.

P.C:

1 The issue in this matter is really two fold; i) is pertaining to the security charges that have to be paid an amount of approximately Rs.45 lakhs and ii) the claim that a secured creditor has qua the property in liquidation. However, in so far as the claim of payment of security charges, it is pointed out to the Court that the original Petitioner in the company petition Metamorphosis Trading LLP had given undertakings to this Court to bear the security charges. He has invited my attention to an order dated 10th March 2023, which read thus:

“1. This Official Liquidator’s Report is filed seeking the following reliefs:-

a) In view of para 17 above this Hon’ble Court may be pleased to ratify the action of the Official Liquidator in deploying security guards per shift i.e. six security guards for three shifts in a day round o’clock of Devendra Worldwide (OPC) Pvt. Ltd. To safe guard the premises of the Company (In Liqn.) situated at Gat No.

316, At Kasar-Amboli, Post Ambedwet, Pune-412 111.

b) In view of para 24 above this Hon’ble Court may be pleased to permit the Official Liquidator to forfeit an amount of Rs.14,14,370/- deposited by Applicant, Metamorphosis Trading LLP and credit in the Account of Company (In Liqn.);

c) In view of para 25 above this Hon’ble Court may be pleased to direct Ex-directors of the Company (In Liqn.) to handover the possession of movable and immovable assets of the Company (In Liqn.) situated at Gat No. 316, at Kasar-Amboli, Post Ambedwet, Pune-412 111 alongwith records and books of accounts of the Company (In Liqn.) to the Official Liquidator, High Court, Bombay and in case of noncooperation this Hon’ble Court may be please to permit the Official Liquidator to break open the lock and seal and take possession of the premises of the Company (In Liqn.);

d) In view of para 26 above this Hon’ble Court may be pleased to permit the Official Liquidator to get the valuation of the movable and immovable assets of the Company (In Liqn.) situated at Gat No. 316, at KasarAmboli, Post Ambedwet, Pune-412 111 and any other assets as disclosed by the Ex-directors of the Company (In Liqn.) by appointing a valuer from the panel of the Official Liquidator as per roster and may be pleased to direct the secured creditors to deposit the valuation charges on being demanded by the Official Liquidator and to direct the Official Liquidator to pay the same to valuer on receipt from them as per revised fee structure of Central Board of Direct Taxes.

e) In view of para 27 above, this Hon’ble Court may be pleased to direct the secured creditors to deposit the security charges of Rs.32,34,522/- for the month from 17.09.2021 to 30.11.2022 and thereafter deposit the security charges on being demanded by the Official Liquidator.

f) In view of above para 28 of this report, whether this Hon’ble Court may be pleased to direct Ex-directors of the Company (In Liqn.) to file Statement of Affairs with the Official Liquidator within stipulated time on failure of which Official Liquida