NARINDER KUMAR JAIN Vs. DOMINO LEATHERS LIMITED

JUDGEMENT

(1.) THIS order will dispose of C.A. Nos. 690 of 2007 in C.A. No. 305 of 2006 and C.A. No. 691 of 2007 in C.A. No. 304 of 2006, as both the applications involve similar questions of law and facts.

(2.) THE applicants have filed the present applications seeking direction to the Official Liquidator for payment of interest on the amount of earnest money of Rs. 45,10,000/ - in C.A. No. 691/2007 and Rs. ,00,000/ - in C.A. No. 691 of 2007 for the period the amount remained with the Official Liquidator i.e. from 27.2.2006 to 10.8.2007.

(3.) THE Official Liquidator has opposed the payment of interest. Admittedly, the sale notice was issued by the Official Liquidator containing following stipulations: