KORBA METALS AND CONDUCTORS PRIVATE LIMITED Vs. BIFR

JUDGEMENT

(1.) Shri Kishore Shrivastava, Senior Advocate with Shri R. V. Sharma, Advocate for the appellant.

(2.) This company appeal under Section 483 of the Companies Act, 1956 filed by the appellant-M/s Korba Metals & Conductors Private Limited arises out of an order of the learned Company Judge of this Bench dated 29-10-2010 passed in I.A. No. 12545/2010, rejecting its application for directions to official liquidator to execute the sale-deed of the property in question being Lot No. 01 in favour of its nominee-M/s Sagar Dwellings Private Limited. The appellant admittedly was an auction purchaser of the property in question being Lot No. 01 and the sale in its favour was confirmed by the Hon'ble Company Judge. After the sale was confirmed in favour of the appellant (auction purchaser), the appellant wanted sale-deed of the property in question to be executed in favour of its nominee-M/s Sagar Dwellings Private Limited for which he filed an application being LA. No. 12545/2010 and the same has been dismissed by the Company Judge vide order impugned in the present appeal.

(3.) Mr. Kishore Shrivastava, learned senior counsel appearing on behalf of the appellant has relied upon provisions contained in Rules 272 & 273 of the Company Court Rules, 1959, which are extracted below :-