SRINIVASA ENTERPRISES, REP. BY ITS MANAGING PARTNER M. SRINIVASA RAO S/O. SRI M. MADHAVA RAO Vs. THE OFFICIAL LIQUIDATOR OF HIGH COURT OF ANDHRA PRADESH

JUDGEMENT

(1.) THIS is an application filed by the applicant, who is a third party, seeking a direction to the Official Liquidator to hand over the possession of the Flat bearing No.804, VIII Floor, Paigah Plaza, Basheer Bagh, admeasuring 2069 sq.ft. to the applicant and to pass such other orders.

(2.) ACCORDING to the applicant, it is a Firm represented by its Managing Partner M. Srinivasa Rao. It is a creditor of the Company, viz. M/s. Nirup Synchrome Limited, represented by its liquidator, the Official Liquidator, attached to this Court. It was the case of the applicant that the applicant Firm was in possession of the property in question since 31.07.2000. On 01.11.2000 the officials of the Official Liquidator have locked and sealed the premises. Thereafter, the applicant Firm had approached the respondent enquiring about such action. Then the applicant Firm was informed by the office of the Official Liquidator that as per their records, the premises belongs to M/s. Nirup Synchrome Limited, which is under liquidation.

(3.) IT is stated that the applicant Firm has approached the respondent on number of occasions in person and through communications, requesting to release of the premises and handover the same to the applicant. But, since the same was not complied with, the applicant has come up with the present application. It is stated that the applicant is a bona fide purchaser of the property for a valuable consideration. The applicant was not aware of any proceedings against the company. The Company came forward to execute the sale deed in favour of the applicant Firm in discharge of part of its liability only after consistent follow up and pressures on the Company. The Company also assured the applicant Firm to clear up entire debt by the end of December, 2000. To the utter surprise of the applicant Firm, it is brought to its notice by the officials of the respondent that the Company is under liquidation.