OFFICIAL LIQUIDATOR OF ARTEK ORGANIC IND. LTD.(IN LIQUIDATION)versusB.I.F.R.

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


                    OFFICIAL LIQUIDATOR REPORT NO. 79 OF 2025
                                                 IN
                          COMPANY PETITION NO. 601 OF 2009


                                                          In the matter of Companies Act, I
                                                          of 1956;
                                                                           And
                                                          In the matter of Artek Organic
                                                          Ind. Ltd.(in Liquidation)


B.I.F.R.                                                                    ...Petitioner
                                             _______
Ms. Apurva Thipsay for the Official Liquidator
Mr Satyajit Roul, Official Liquidator present.
Mr. Anil Bhagure, Dy. Official Liquidator present.
Ms Niyati Merchant i/b MDP Legal for Omkara ARC.
Ms Nikita Vardhan, Ms Vidyashree Perla i/b Kanga & Co. for Respondent No. 1.
                                             _______
                                  CORAM           :       ARIF S. DOCTOR, J.
                                  DATE            :       23rd JANUARY, 2026


P.C.


1.         The present Official Liquidator’s Report seeks the following directions;

               “a) In view of para (11) of this report, whether this Hon'ble Court would be
               pleased to permit the Official Liquidator to declare dividend @23.35 paisa
               in a rupee to Omkara Asset Reconstruction Private Limited amounting to
               Rs.7,69,99,116/- [Rupees Seven Crores Sixty Nine Lakhs Ninety Nine
               Thousand. One Hundred and Sixteen only], without prejudice to the right
               and contention of the Official Liquidator and subject to undertaking to be
               submitted by Omkara Assets Reconstruction Private Limited to bring back
               the amount as and when directed by Hon'ble High Court, Bombay;




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           b) In view of para (12) of this report, whether this Hon'ble Court may be
           pleased to dispense with the requirement of Rule 276 of the Companies
           (Court) Rules, 1959 and permit to issue notice of payment to Omkara
           Assets Reconstruction Private Limited by speed post at their last known
           address;

           c) In view of para (13) of this report, whether this Hon'ble Court may be
           pleased to dispense with the requirement of Rule 290 of the Companies
           (Court) Rules, 1959 in respect of opening of Separate dividend account in
           view of there being only creditor to whom dividend is proposed and permit
           the Official Liquidator to pay the dividend of Rs.7,69,99,116/- [Rupees
           Seven Crores Sixty Nine Lakhs Ninety Nine Thousand One Hundred and
           Sixteen only] to Omkara Assets Reconstruction Private Limited directly
           from PLA account of Official Liquidator;

           d) In view of para (14) of this report, if Omkara Assets Reconstruction
           Private Limited is unable to present and claim the amount as per the
           dividend notice within the period of six months, from the date of order,
           whether this Hon'ble Court pleased to permit the Official Liquidator to
           transfer the unpaid/ unclaimed amount to "Companies Liquidation
           Account", maintained by the Registrar of Companies under section 555 of
           Companies Act, 1956;”




2.      Learned counsel appearing on behalf of the Ex-Directors of the Company

in liquidation though had sought time to file Affidavit, have today submitted that

they have no objection to the Report being allowed. Furthermore, Ms. Thipsay

points out that dividend, which is to be declared to the secured creditors

Omkara Assets Reconstructions Pvt. Ltd. shall be paid however, subject to

Omkara Assets Reconstructions Pvt. Ltd. furnishing an undertaking to the

Official Liquidator to bring back the amount if and when directed by the Official

Liquidator.

3.      Learned   counsel     appearing     on    behalf    of   the    Omkara         Assets

Reconstructions Pvt. Ltd. submits that her client shall submit to the Official




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Liquidator an undertaking in the requisite format provided by the Official

Liquidator.

4.      Having due regard to the aforesaid and having perused the Report, I find

that the same would have to be allowed in terms of prayer clause ‘a’ to ‘d’.

5.      The Official Liquidator’s Report is accordingly allowed and disposed of.




                                                  [ARIF S. DOCTOR, J.]




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