METAL TUBES AND ROLLING MILLS Vs. THE OFFICIAL LIQUIDATOR, LIQUIDATOR OF TRANSPOWER ENGINEERING LTD. AND ORS.

JUDGEMENT

(1.) By this Company Application, the applicant seeks an order and direction against the respondent no.2 i.e. the Regional Officer, MIDC to transfer the immovable property being Plot No.B-16, MIDC, Taloja, Panvel Dist. Raigad admeasuring 4050 sq. meters in the name of the applicant being the purchaser of the said property and payment on standard transfer charges and also seeks an order and direction to extend the time for building completion by two years from the date of transfer of the said plot in the name of the applicant and for other reliefs. Some of the relevant facts for the purpose of deciding this Company Application are as under :-

(2.) On 28/1/1978 under a Partnership Deed, the firm namely M/s. Transpower Corporation was constituted. On 7/3/1980 vide an agreement executed between MIDC and the said M/s. Transpower Corporation, the said Plot bearing No. B-16 situated within Taloja Industrial Area of MIDC, Taluka Panvel, Raigad District (hereinafter referred to as "the said plot") was allotted to M/s. Transpower Corporation on the terms and conditions set out therein. On 7/3/1980, the MIDC handed over the possession of the said plot to the said M/s. Transpower Corporation. On 4 th May, 1980, the said M/s. Transpower Corporation was converted into a private limited company in the name "Transpower Engineering Private Limited".

(3.) On 31/12/1980, the said partnership firm M/s. Transpower Corporation was dissolved. On 27/9/1991, the said M/s.Transpower Engineering Private Limited was converted into a limited company, being the company in liquidation, vide special resolution dtd. 27/9/1991. Form No. 23 was also filed in that regard by Transpower Engineering Private Limited with the Registrar of Companies. Sometime in the year 1998, M/s. Metal Tubes and Rolling Mills filed a winding up petition against the respondent company (in liquidation) in this Court. By an order dtd. 22/1/2008, the respondent company was ordered to be wound up by this Court.