JOHN BOSCO Vs. BHAGYODAYAM COMPANY

JUDGEMENT

(1.) The National Company Law Tribunal, appointed the former Acting Chief Justice of Madras High Court, Sri.K Narayana Kurup as interim administrator of Bhagyodayam Company.

(2.) The land belonged to the Company has been acquired by Kochi Metro Rail Project, precisely for construction of Pachalam over bridge. Compensation amount was determined. As per the agreement, 80% of the amount was disbursed on 11.03.2015. The balance 20% would be given on executing a sale deed in favour of the Kochi Metro Rail Project. The present dispute pertains to the disbursal of 20% balance amount to the Company.

(3.) National Company Law Tribunal, Kochi, on transfer from Chennai, passed Ext.P3 order directing the administrator to execute the sale deed on collecting the balance 20% of the compensation.