RPJ MINERALS PRIVATE LIMITED AND ANOTHER Vs. S.K. SAXENA, OFFICIAL LIQUIDATOR, U.P. STATE CEMENTS CORPORATION LTD. AND OTHERS

JUDGEMENT

(1.) This appeal is disposed of summarily and the only doubt that we feel in passing our judgment is as to whether we were justified in spending as much time as we have, about four days, in hearing the appellants' case or giving any importance to the points raised on behalf of the appellants. Our remark is not to be taken as casting any sort of aspersion on the counsel appearing for the appellants, who did a valiant job, but our remark is directed only against the thoroughly unsubstantial nature to the appellant's case and the wholly untenable position of the appellant in regard to its locus standi.

(2.) Excepting for a small clarification with regard to paragraph 58, which is the last paragraph of the judgment and order passed by Honourable Mr. Justice Sunil Ambwani on the 20th of Sept., 2006, which is impugned before us, we are in respectful, full and complete agreement with the reasoning given and the order passed by the Honourable Single Judge. The second minor reservation we have is with regard to a wrong submission made by the State Government with regard to the State Cabinet decision taken in the year 2001, the exact import of which was not made clear to the Honourable Judge, but subsequently was made clear to us. This is noted by his Lordship in the last page but one of the judgment, in the latter portion of paragraph 56. In our opinion, this incorrectness of fact, which was the result of the State's submission and pleadings, is not the matter of any material importance.

(3.) The appeal arises basically in respect of a sale of Company assets and other assets approved and confirmed by the Company Court in respect of the Company in liquidation, i.e., U.P. State Cements Corporation Limited. The order of winding up was passed in the year 1999; the sale of the said assets was approved on the 30th of Jan., 2006 and the order of confirmation was passed on the 11th of Oct., 2006. The State Cabinet incidentally decided to abide by the decision given by the Company Court on the day before, i.e., on the 10th of Oct., 2006 and as such, the State Government has wholly supported purchasers, i.e., Jai Prakash Associates Ltd., namely, JAL.