SUDIPTA TRADERS PVT LTD Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) The question to be answered in each of the two applications above is whether an order can be made permitting the purchaser of an immovable property of the company in liquidation to obtain the conveyance in favour of its nominee ?

(2.) Since identical questions of law and more or less identical facts are involved in these two applications, they are being disposed of by a common judgment and order.

(3.) Let me take the facts of Sudipta Traders first. Sale of its immovable property was confirmed at Rs. 13.5 crores by an order of the hon'ble Supreme Court of India made on June 20, 2008. That order said that upon the balance of the said consideration being deposited by the purchaser "the sale in favour of the Petitioner shall be confirmed". Upon payment of the balance consideration by them possession was handed over to the applicant by the official liquidator on August 19, 2008.