ONKAR DUTTA GUTTI Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) This appeal is directed against the order dated 13th August, 2004 passed by the learned Single Judge dismissing the application of the appellant, which was registered as CA No.588/2000. The issue that arises for consideration in this appeal practically revolves around the issue with regard to payment of interest to the appellant.

(2.) Mr.Onkar Dutta Gutti had entered into an agreement with M/s Globe Diesels Aid Pvt. Ltd. whereby he agreed to purchase certain land of the company. However, after the aforesaid agreement to sell was executed, the company went into liquidation. The land in question, which was the subject matter of the agreement to sell between the appellant and the company in liquidation, was also acquired by the State of Haryana. The State of Haryana awarded compensation of Rs.2,87,761.50 paise which included Rs.21,332.50 paise payable to one Shri Madan Gopal, whose land was also acquired simultaneously, but was not the subject matter of agreement to sell between Mr.O.D.Gutti and the company in liquidation.

(3.) As the company had gone into liquidation, disputes arose as to who is entitled to receive the compensation. The dispute raised was as to whether it is the applicant who has to receive the compensation as he had purchased the land or whether it should go to the Official Liquidator as the company has been wound up and has gone into liquidation.