RAVINDER SINGH CHAUHAN Vs. WINGS WEAR PVT LTD

JUDGEMENT

(1.) This intra-court appeal is preferred against the order dated 01.12.2011 of the learned Company Judge dismissing Company Application No.1541/2010 preferred by the appellant.

(2.) It is the case of the appellant that M/s Wings Wear Pvt. Ltd. (in liquidation vide order dated 07.11.2002) was the owner of flats No.104 and 107 on the First Floor of the building known as Guru Ram Dass Bhawan, Ranjeet Nagar Commercial Complex, New Delhi; that it had vide two separate Agreements both dated 25.01.1995 agreed to sell the said flats to the appellant for a sale consideration of Rs. 3,00,000/- each and out of which a sum of Rs. 2,00,000/- against each flat was paid by the appellant as earnest money. The Company Application No.1541/2010 was filed by the appellant seeking a direction to the Official Liquidator to execute the Sale Deed of the said two flats in favour of the appellant against receipt of balance sale consideration of Rs. 1,00,000/- for each flat from the appellant.

(3.) The learned Company Judge has dismissed the said application of the appellant holding that the effect of the winding up order was that the properties of the company in liquidation were to be applied in satisfaction of the liabilities of the company as at the time of commencement of the winding up proceedings. It was further held that no new rights in the properties of the company in liquidation could be created after the order of winding up and it was further held that no uncompleted rights could be completed after the order of winding up and the relief claimed by the appellant was contrary to the rights of the creditors of the company in liquidation.