VISHADRA CHARITABLE TRUST Vs. STATE

JUDGEMENT

(1.) THIS Original Petition is filed under Section 34 of the Indian Trust Act 1882 praying to grant permission to the petitioner to sell the petition schedule property to Mr.P.Rajasekar, by way of one or more sale deed/s for a total sale consideration of Rs.4,00,00,000/ - (Rupees Four Crores only) as per the sale agreement dated 25.11.2012 and to deposit the sale proceeds in a nationalised bank, viz., M/s. Vijaya Bank, Anna Nagar Branch, Chennai -40 in A/c No.304401010001599 belonging to "VISHADRA CHARITABLE TRUST".

(2.) PURSUANT to the Original Petition, several orders were passed from time to time in order to enable the trust to sell the property and receive the sale consideration for the benefit of the trust. Consequent to the various proceedings, various orders were passed from time to time and these orders are compiled as per the events for the purpose of passing this present orders. The orders are as follows.

(3.) PURSUANT to the above order, in addition to Thiru P.Rajasekar, the agreement holder one M/s.Egberts India Private Limited, have offered to purchase the schedule property for a sum of Rs.5,02,00,000/ -.Considering both offer,this Court by order dated 3.4.2013 passed the following order: -