TRIPOWER PROPERTIES LIMITED Vs. INSPECTOR GENERAL OF REGISTRATION

JUDGEMENT

(1.) This Writ Petition has been filed for the issuance of Writ of Mandamus, directing the respondents 1 and 2 to enter the Sale Certificate dtd. 22/3/2021 issued and forwarded by the third respondent in Book No.1 under Sec. 89 of the Registration Act, 1908, without insisting the stamp duty, in line with the order dtd. 26/2/2021 made in W.P.Nos.8084 and 18371 of 2017 passed by this Hon'ble Court.

(2.) Heard Mr.P.Krishnan, learned counsel appearing for the petitioner and Mr.Yogesh Kannadasan, learned Special Government Pleader appearing for the respondents 1 and 2.

(3.) The case of the petitioner is that M/s Disc Assets Lead (India) Limited, dealt with investment and received funds from several investors for its business and committed default in repayment. Therefore, the investors filed a writ petition before this Court in W.P.No.8084 of 2017, to appoint an Administrator Committee to take necessary steps to identify the properties of the defaulter company and transferees to ascertain the location, marketability and title thereto and to sell the same for distributing the sale proceeds to the affected investors. This Court appointed the third respondent / Administrator Committee, and the third respondent was directed to deposit the sale proceeds.