OFFICIAL LIQUIDATOR OF K. R. COMMODITIES EXPORTS PRIVATE LIMITED. (IN LIQUIDATION)versusSHREE RENUKA SUGARS LIMITED. (PETITIONER)

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                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                    ORDINARY ORIGINAL CIVIL JURISDICTION


                OFFICIAL LIQUIDATOR REPORT NO. 150 OF 2026
                                        IN
                     COMPANY PETITION NO. 404 OF 2010


                                                In the matter of Companies Act, I of
                                                1956;
                                                                 And
                                                In the matter of K. R. Commodities
                                                Exports     Private    Limited.        (in
                                                Liquidation)


Shree Renuka Sugars Limited.                                           ...Petitioner
                                     _______
Ms. Prachi Pandya a/w Ms. Bhavya Ganatra i/b Corporate Attorneys for Noticee
No. 1.
Ms. Akanksha Agrawal, for Official Liquidator.
Mr. Anil Bhagure, Dy. Official Liquidator present.
                                     _______
                           CORAM         :        ARIF S. DOCTOR, J.
                           DATE          :        27th MARCH, 2026
P.C.


1.       Heard Ms. Agrawal, learned counsel appearing on behalf of the Official

Liquidator as also Ms. Pandya for the State Bank of India.

2.       Ms. Agrawal points out that the Official Liquidator has received the

following claims, for convenience are extracted herein below:

 Sr. Details of Creditors Amount Claimed                  Amount Admitted
 No.
                                                  Secured             Unsecured
                                              (U/s 529 / 529A)



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 (i) Kotak Mahindra            3,39,01,376/-            -              2,06,35,910.64/-
         Bank Limited
         (Unsecured
         Creditor)


 (ii) State Bank of India     1,02,28,240.37/-      8,77,084/-                 -
         (Secured Creditor)
                              1,28,29,86,731.8 21,50,00,000/-           18,50,00,000/-
                                    5/-
 (iii)                                                  -                14,23,008/-
         I-Dot Co-operative     15,91,867/-
         Housing Society
         Ltd.
         (Society Dues as
         Liquidation
         Expenses)
 (iv)                                                   -                      -
         Municipal             1,64,00,560/-
         Corporation, Pune

         (Municipal Dues as
         Liquidation
         Expenses)
         Total Amount         1,34,51,08,775.2 21,58,77,084/-         20,70,58,918.64/-
         Admitted                   2/-



3.        Ms. Agrawal points out that in so far as claim of Kotak Mahindra Bank

Ltd. is concerned, it is an unsecured creditor, she submits that though the claim

of I-Dot Co-operative Housing Society Ltd. is also an unsecured creditor, the

same is accorded priority as it would qualify as a liquidation expense. In this

context, she submits that the Liquidator is presently seeking to make the

following payments:

 Sr         Particulars                                     Amount (In Rs.)

 No.



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 1      Balance amount as on date to the credit of      11,51,37,080/-

        the Company (In Liqn.)

 2       (less) Full and Final amount of Society 14,23,008/-

        Dues as Liquidation expenses

 3.     (less) Provision for dues of Municipal 1,64,00,560/-

        Corporation,    Pune      to   quantify    as

        Liquidation Expenses.

        (Claim not adjudicated)

 4.     (Less) Balance to be kept with Official 10,00,000/-

        Liquidator for Official Liquidator expenses

        and commission in respect of Company (In

        Liqn.)

        Net available amount for distribution as 9,63,13,512/-

        dividend

 5      1st and final dividend @ 100 % on total 8,77,084/-

        admitted amount of State bank of India i.e.

        Rs. 8,77,084/- as Secured Creditor against

        the captioned Company (In Liqn.) i.e. K R

        Commodities Exports Pvt Ltd.

 6      1st dividend @ 44.389% on total admitted        9,54,36,350/-

        amount Rs.21,50,00,000/- of State Bank of

        India towards claim of Principal Debtor

        Anytime India Fitness Pvt Ltd (In Liqn.)

        admitted as claim against captioned



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         company (in liqn.) as surety.



4.      After keeping aside an amount of Rs. 1,64,00,560/- in respect of

Municipal Corporation, Pune. Learned counsel for the State Bank of India, does

not oppose the application, but only submits that the claim of the said Municipal

Corporation, Pune be adjudicated within some time bound period and not get

open ended, she is correct in her submission, hence the Report is allowed in

terms of the aforesaid prayers.

5.      It is clarified that the Official Liquidator shall take appropriate steps to

intimate the Municipal Corporation, Pune to submit their necessary documents

in respect of their claim. In the event, the Municipal Corporation, Pune does not

do so within the next six months, the Liquidator shall adjudicate the claims.

6.      A copy of this order shall be served by the Official Liquidator to the

Municipal Corporation, Pune.




                                                   [ARIF S. DOCTOR, J.]




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