TaxTMI 
TaxTMI 
2001 (3) TMI 964
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....e Liquidator of the Bank of Karad Limited to hand over vacant and peaceful possession of the office premises. The Bank of Karad was the tenant in respect of the office premises situated on the ground floor on a monthly rent of Rs. 493.71. The applicant purchased the premises under a registered deed of conveyance on 11-8-1995, after which a letter or attornment came to be issued. Bank of Karad was ordered to be wound up with effect from 27-5-1992 by an order dated 28-7-1994 of the Court. 2. The liquidator filed an affidavit dated 8-2-2000 in these proceedings stating that in the premises in question which are also popularly known as the Oak Lane premises, all the records of the Bank of Karad, which is a 'scam' ridden bank have been stored....
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....the applicant. These premises are situated on the forth floor of the same building. The liquidator has filed an affidavit dated 5-7-2000 setting out the reasons why he considered that the alternative premises are unsuitable. The alternative premises which were offered are part of an area which is under a tenancy agreement with a Company by the name of SMIFS Securities Ltd. and the period for which the premises were being offered, the area as well as the security arrangements had not been specified. Besides, it was stated that the space which was on the fourth floor had an approach by a narrow staircase, and the safes belonging to the liquidator in which sensitive documents have been stored cannot be shifted to the forth floor. There are fir....
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.... up activities of the company in liquidation. The Judgment in Ravindra Ishwardas Sethna's case (supra) was subsequently referred to in the Judgment of the Supreme Court in Nirmala R. Bafna/Keshi Shivax Combatta v. Khandesh Spinning & Weaving Mills Co. Ltd. AIR 1993 SC 1380. In para 23 of its Judgment the Supreme Court was of the view that the fact 'that the official liquidator requires the portion of the flat (now in his actual possession ) for storing the company books, is certainly relevant consideration'. In response to a submission made on behalf of the landlord to the effect that the official liquidator can easily store the books of account in his office or elsewhere, the Supreme Court held that even if it was so the liquidator could n....
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....or. The requirement for keeping the records in safe custody in this case, cannot be equated with the mere storing of books of account in other cases. In the present case, sensitive documents are required to be handled and stored by the official liquidator having regard to the involvement of the Bank of Karad in several pending cases before the Special Court. The premises are required for carrying on the work relating to the Bank of Karad. The learned counsel appearing on behalf of the applicant stated that the protection which is now available to banks or Financial Institutions has been substantially restricted under the new Rent Act. So far as this aspect is concerned, a suit for eviction which has been filed by the applicant in the small ....