RESERVE BANK OF INDIA Vs. JVG FINANCE LTD

JUDGEMENT

(1.) Ca 2080/2014

(2.) This court by its order dated 22.7.2004 appointed Mr.G.P.Thareja, One Man Committee to scrutinise the claims of various applicants who were having alleged registered title in their favour. The said committee started verifying the claims of the various applicants. The applicant also appeared before the Committee in support of its submission that the plot E-313 be released to the applicant. On 3.6.2011 Mr.J.P.Aggarwal the then Presiding Officer of the JVG Committee constituted by this court filed his report whereby he accepted the claim of the applicant. Hence, it is pleaded that the title of the applicant had been upheld by the report of the One Man Committee constituted by this court. It is prayed that the plot be released by the OL.

(3.) I have heard learned counsel for the parties. Learned counsel for the OL has opposed the present application on broadly two grounds. He firstly submits that as per the report of the One Man Committee the OL was to examine the original sale deed, receipt and other relevant documents for handing over possession of the plot to the applicant. He submits that the applicant has failed to place on record any resolution of the Board of Directors of the respondent company authorising Col.Ganapathy for executing the sale deed.