DELHI DEVELOPMENT AUTHORITY Vs. AEROSHINE

JUDGEMENT

(1.) This appeal under Section 483 of the Companies Act, 1956 is preferred by the appellant Delhi Development Authority (DDA) against the order dated 31.08.2004 of the learned Company Judge of this Court in CA No.504/1983 in CA No.358/1980 in CA No.161/1983 in CP No.78/1968 filed for winding up of M/s Globe Associates (P) Ltd. Though the complete chronology of facts is not available in the paper book of this appeal and inspite of records of CP No.78/1968 having been requisitioned, the files relating to CAs in which the orders impugned in this appeal were made were not found, but the same does not deter disposal of this appeal, considering the limited nature of the controversy subject matter of this appeal.

(2.) We gather from the files that appellant DDA had granted the leasehold rights of Plot No.16A Rani Jhansi Road, Motia Khan, New Delhi to one M/s Amar Singh & Co. who, prior to the order of winding up of M/s Globe Associates (P) Ltd. had agreed to sell / transfer the same to the said M/s Globe Associate (P) Ltd. As per the terms and conditions of the perpetual lease deed executed by the appellant DDA to M/s Amar Singh & Co., the same were transferable after obtaining permission of DDA and on payment of "unearned increase".

(3.) Upon the said M/s Globe Associates (P) Ltd. being ordered to be wound up, application under Section 446 of the Companies Act, 1956 was filed seeking specific performance of the said Agreement to Sell and during the pendency of which proceedings, rights of the company in winding up as an agreement purchaser were purchased by the respondent M/s Aeroshine and which was approved by the learned Company Judge vide order dated 18.08.1983.