FORT WILLIAM INDUSTRIES 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? 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.

(2.) The terms and conditions governing the sale, inter alia stipulated under clause 7 that intending purchasers could not bid in the name of any nominee (clause 7). Furthermore, clause 11 provided that the deed of conveyance should be executed in favour of the purchaser. Sometime in December 2008 a draft conveyance was sent by the purchaser to the Official Liquidator.

(3.) There is absolutely no dispute about the fact that the entire consideration was paid by the applicant.