SHREE CEMENT LIMITED Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) This appeal is from the Judgment and Order dated 2/12/1992, passed by a learned Judge of this Court taking company matters.

(2.) Shalimar Rope Works Limited (hereinafter referred to as the Company) had a guest house at Maharani Bag, New Delhi. The landlord of the said guest house is the respondent No. 2 in this appeal, viz., Arvinder Singh Sabharwal, The company was the tenant under the said landlord in respect of the said guest house at Maharani Bag, New Delhi. The company was ordered to be wound up by an order of this Court dated 10/06/1991.

(3.) The appellant before us, Shree Cement Ltd., claims to be a sub-tenant in respect of the said guest house at Maharani Bag, New Delhi. Upon liquidation of the company, the Official Liquidator took possession of the assets of the company on 18/11/1991. The Official Liquidator also took possession of the said guest house and put the same under lock and key. The landlord, the respondent No. 2 in this appeal, made an application under S. 535 of the Companies Act, 1956 (hereinafter referred to as the Act), for a direction upon the Official Liquidator to disclaim the tenancy of the company in his favour. The appellant also had filed a separate application under S. 535(6) of the Act for vesting the tenancy of the company in the appellant. The appellant took out a Judge's Summons before the Court of first instance on 25/01/1992 claiming, inter alia, (a) leave be granted to the Official Liquidator to disclaim the guest house being premises No. C-22, (Old No. C-71), Maharani Bag, New Delhi, more fully mentioned in the Agreement dated 29/07/1970, being Annexure-A, and vest the same in favour of the applicant-company as a sub-tenant thereof, subject to and upon the same liabilities and obligations as embodied in the said Agreement dated 29/07/1990; and (b) direction be given to the Official Liquidator to hand over possession of the said Guest House together-with all the assets and properties to the applicant-company.