N.R. MANIVANNAN Vs. APEX LABORATORIES PVT. LTD.

JUDGEMENT

(1.) Instant Original Side Application is directed against the order and decreetal order, dated 19.09.2016 in Company Application No.1209 of 2015 in Company Petition No.415 of 2014.

(2.) At the instance of the Apex Laboratories Private Ltd., Chennai, in C.P.No.415 of 2014, Official Liquidator, High Court, Madras, as Provisional Liquidator, has taken possession of the assets of M/s. Dhurgesh Nandhini Spinning Mills Ltd., Theni. Mr. N.R. Manivannan, Creditor Partner of the abovesaid Spinning Mills Ltd., who had leased out his lands to the firm, subsequently taken over by the Company has filed C.A.No.1209 of 2015, praying for a direction to the Official Liquidator, High Court, Madras, to forthwith release the property in S.Nos.1434/1B, 1453/1B, 1453/1C and 1453/1D, in extent of 3.84 acres or thereabouts and bearing No.3-1-47, Cumbum Road, Theni and put the appellant in possession.

(3.) In C.A.No.1209 of 2015, the properties mentioned are, buildings and civil structures, situated at No.87, Cumbum Road, Theni 625 531, valued by M/s. ITCOT at Rs. 1,91,73,000/-. After obtaining necessary orders on 21.06.2016, the Official Liquidator, High Court, Madras, has issued sale notices, fixing the date of sale as 10.11.2016.