T VINAYAKA PERUMAL Vs. T BALAN

JUDGEMENT

(1.) The appellant is the owner in possession of lands measuring 3 acres and 54 cents in S. No. 428/4A1A and 47 cents in S. No. 428/8A, totaling 4.01 acres at Gummidipoondi, as detailed in the schedule, attached to the grounds of appeal. The appellant purchased the property from Thiru G. George, 6th respondent, vide sale deed dated 5.1.2006, registered as document No. 48/2006 on the file of SRO Gummidipoondi.

(2.) The property purchased by the appellant was registered in the name of Thiru G. George, and was in uninterrupted possession of the property.

(3.) The appellant entered into agreement on 16.10.2006 to sell the schedule property to Mr. Mangilal on receipt of sale consideration. The sale deed was to be executed by the appellant in favour of Mr. Mangilal. The appellant received a notice from the Company Law Board in a proceeding under sections 397 and 398 of the Companies Act, initiated by the respondents 1 to 4 against respondents 5 to 9, ordering the appellant to deal with the property only with liberty obtained from the Company Law Board.