TCI DISTRIBUTION CENTERS Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) THE applicant in all these cases M/s. TCI Distribution Centers Limited is the purchaser, pursuant to the publication effected by the Official Liquidator, High Court, Madras, in respect of 41.12 Acres of freehold land belonging to M/s. Fidelity Industries Limited (in liquidation). The said lands are situated in two villages, viz., Kilai and Ulandai. The applicant was the highest bidder in the auction conducted by this Court on 6.2.2008 for an amount of Rs. 15.20 Crores and the sale was confirmed in favour of the applicant.

(2.) THIS Court has directed the payment of difference of EMD amount and balance sale consideration within ninety days, in two installments. It is stated that the applicant has remitted the balance EMD. On a request by the applicant for furnishing the title deeds and field map relating to the property, the Official Liquidator was directed to collect the documents from IDBI and the field map was also directed to be furnished.

(3.) IT is the case of the applicant that thereafter, IDBI has handed over only 26 documents covering an extent of 20 acres and the other documents were not delivered. When a request was made on 3.6.2008, the Official Liquidator handed over 26 original document and the date of handing over of possession was fixed on 12.6.2008. It is stated that the applicant was present on the said date for taking possession and the applicant found that it was a barren land and there were no boundary stones. It is stated that the Official Liquidator has also prepared minutes for handing over physical possession on the said date. It is the complaint of the applicant that the Official Liquidator has not handed over the physical possession of the properties with boundaries. However, it is stated that the applicant has taken possession of the property in full faith.