GATI CARGO MANAGEMENT SERVICE Vs. SBL INDUSTRIES LTD.

JUDGEMENT

(1.) CA No.648/2012, has been filed by the applicants seeking recalling of the order dated 30.11.2011 passed in CA No.1557/2011 whereby the Court directed cancellation of sale deeds registered with the Sub-Registrar, Mumbai with respect to the property belonging to the company in liquidation situated at Plot No.74/A, Sub Plot No. 74/AII of Village Hehal, P.S. Sukhdeo Nagar, P.S.No.203, District Ranchi, Jharkhand and handing over the said property to the Official Liquidator. The applicants have also prayed for confirming the sale of the said property in favour of the applicants. CA No.1838/2013 has been filed by the applicants seeking modification of the order passed by this Court on 11.04.2012 in CA No. 648/2012 (Although, in the prayer made seeks modification of the order dated 30.11.2011, paragraph 9 of the application mentions order dated 11.04.2012). This court, by an order dated 11.04.2012 in CA No.648/2012, had directed maintenance of status quo with respect to the said property and had restrained the applicants from transferring, selling or alienating the said property.

(2.) The principal question to be considered is whether registration of a sale deed relating to a property situated in Bihar, with the office of Sub- Registrar - Mumbai would be valid.

(3.) The brief facts of the case are that SBL Industries Ltd. (company in liquidation and hereinafter referred to as the 'company') was the owner of the property situated at Plot No.74/A, Sub Plot No. 74/AII of Village Hehal, P.S. Sukhdeo Nagar, P.S. No.203, District Ranchi, Jharkhand since 1976. The said property is hereinafter referred to as the 'subject property'. The applicants are stated to have purchased the said property, divided into eight shares, from the company for a total consideration of Rs. 40,00,000/- consisting of Rs. 5,00,000/- for each of eight divided shares of the subject property. The said consideration was paid during 18.10.2000 to 07.02.2001. In pursuance thereof, eight sale deeds dated 07.02.2001 were executed and registered with sub-Registrar, Mumbai. The said sale deeds are hereinafter referred to as the 'subject sale deeds'.