IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF APRIL, 2017 BEFORE THE HON’BLE MR.JUSTICE RAGHVENDRA S. CHAUHAN BETWEEN:
Company Application No.38/2017 In Company Petition No.2/2000 MRS. MAGAN KANWAR WIFE OF LATE MR. DASHRATH SINGH SHEKAWAT AGED ABOUT 51 YEARS RESIDING AT NO.B-5 BRINDAVAN APARTMENTS HOSUR ROAD, ADUGODI BENGALURU – 560 030 …APPLICANT (BY SRI.KARAN JOSEPH, ADV.) AND:
1. M/S. KIRLOSKAR INVESTMENTS AND FINANCE LTD.(IN LIQUIDATION) REGISTERED OFFICE AT 2ND FLOOR ‘C’ BLOCK, UNITY BUILDING J.C. ROAD BANGALORE – 560 002 REPRESENTED BY THE OFFICIAL LIQUIDATOR ATTACHED TO THE HIGH COURT OF KARNATAKA CORPORATE BHAVAN, 26-27 12TH FLOOR, RAHEJA TOWERS MG ROAD BENGALURU – 560 001.
2. THE RESERVE BANK OF INDIA CENTRAL OFFICE BUILDING, SHAHID BHAGAT SINGH MARG, MUMBAI-480001. ... RESPONDENTS (BY SRI. K.S. MAHADEVAN, ADV.) ***** THIS COMPANY APPLICATION IS FILED UNDER WITH RULES 6 & 9 OF THE COMPANIES (COURT) RULES, 1959, PRAYING TO GRANT THE APPLICANT ADDITIONAL TIME OF SIX MONTHS TO MAKE THE BALANCE PAYMENT OF RS.80 LAKHS (RUPEES EIGHTY LAKHS ONLY) TO THE OFFICIAL LIQUIDATOR WITH RESPECT TO THE SAID PROPERTY, AND ETC., THIS COMPANY APPLICATION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER C.A.No.38/2017 has been filed by Mrs. Magan Kanwar for seeking extension of time for paying the remaining amount of Rs.80,00,000/- to the Official Liquidator, as the remaining amount for the sale of Apartment No.B-5, Brindavan Apartments, Hosur Road, Adugodi, Bengaluru.
2. Learned counsel for the applicant submits that the said property was put on auction block where the applicant was the highest bidder. According to the applicant, she has already paid Rs.10,00,000/- as Earnest Money Deposit. Therefore, remaining amount of Rs.80,00,000/- is required to be paid. While the applicant was arranging for the balance amount of Rs.80,00,000/-, on 06.01.2017, she has lost her husband. Therefore, due to the family disturbance, she has not been able to pay the remaining amount. Hence, the application for extension of time.
3. In all fairness, learned counsel for the Official Liquidator submits that keeping in mind the family disturbance of the applicant, he has no objection for extension of time by further period of six months.
4. Therefore, this Court grants the applicant six months’ time from 01.05.2017 to pay the remaining amount of Rs.80,00,000/- to the Official Liquidator.
Thus, the said amount shall be paid on or before 01.11.2017.
Accordingly, C.A.No.38/2017 is allowed.
Sd/-
Judge Prs*