RAMAPANDIYAN Vs. MANAGER INDIAN BANK

JUDGEMENT

(1.) THE above appeals arise as against the order dated 31.3.2005 in C.A.Nos.272 and 273 of 2005 in C.P.No.130 of 1999.

(2.) THE company petition is filed in respect of the Company called M/s.Anubhav Plantations Ltd., which is a company in liquidation. In the company petition, the Company Court has appointed Mr.M.Ravindran, Senior Advocate as an Administrator in respect of the company in liquidation with a view to take effective steps to recover the amounts due from various persons who owe money to the company and in order to distribute the same to the depositors.

(3.) IN the meanwhile, the Company Court has passed orders permitting the Official Liquidator to initiate further steps to conduct the survey of the lands and also for the submission of the valuation report. By order dated 31.3.2005, the Company Court fixed the value of the land and building as Rs.86,16,000/- on the basis of the valuation report, surveyor report as well as the submissions made by all the parties concerned and directed the appellant to make a substantial payment within a period of two weeks. Subsequently, the Official Liquidator has caused publication of the same, inviting tenders and last date of the submission of the tenders was fixed as 25.4.2005.