THUMMALACHETTY BUILDERS AND DEVELOPERS PVT LTD Vs. COMMISSIONER AND INSPECTOR GENERAL OF STAMPS AND REGISTRATION

JUDGEMENT

(1.) RESPONDENT No. 4, namely Megacity co-operative Urban Bank Limited, purchased the land in an extent of Ac. 3-16 guntas in sy. No 100 B (Old 100) at Nizampet village, qutbullapur Mandal, Ranga Reddy District, from its original owners and subsequent purchasers vide registered document nos. 6115/01 and 6116/01, dated 17-8-2001, 6202/01, dated 20-8-2001 and 13706/01, dated 10-10-2001, and since then it has been in possession and enjoyment of the same.

(2.) WHILE so, respondent No. 4 Bank went into liquidation, and it was superseded by the Registrar of Co-operative Societies vide orders dated 2-3-2002. And from 9-9-2002, the Assistant Registrar (Co-operation), who was appointed as Official Liquidator, became the lawful authority to deal with the properties of respondent No. 4-Bank. However, the ex-Vice Chairman and ex-Managing Director of respondent No. 4-Bank, had executed documents alienating the land in favour of third parties, who in turn alienated the same in favour of other parties by carving out plots. The said transactions resulted in the parties resorting to filing of civil cases against each other.

(3.) THE Official Liquidator having become the lawful authority to deal with the property of respondent No. 4-Bank, conducted auction of the property in question, in which one mr. M. Gopal gave his offer at Rs. 1. 15 crores on 22-5-2006 and paid an amount of rs. 15. 00 lakhs on 25-5-2006 and another rs. 1. 00 lakh on 20-11-2006. Thereafter, the said Mr. M. Gopal entered into a MOU with the petitioner, who paid the balance sale consideration of Rs. 99. 00 lakhs to respondent No. 4-Bank on 23-5-2007.