TaxTMI 
TaxTMI 
2005 (8) TMI 395
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....o. 1641 of 1999 and the earlier orders referred to therein arising out of C.P. No. 60 of 1994 whereby sale by private contract of valuable immovable property has been permitted and sanctioned and ordered to be proceeded with..." It will be seen from the aforesaid prayer that the appellant not only wants us to set aside the orders dated March 4, 2003 and March 6, 2003, but also all earlier orders which have been passed in Co. Petition No. 60 of 1994. Any appeal arising out of an order passed by the learned company judge has to be filed within the prescribed period of limitation. No general prayer can be maintained, wherein, on the basis of one or two impugned orders an appellant can pray for setting aside of the previous orders passed ....
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....rned company judge proceeded to deal with the submission of the appellant that it was mandatory to sell the property by public auction. It has been held that the offer of the tenant could not strictly be termed as private contract and that in any case a private contract was permissible in law as per section 457(1)(c) of the Companies Act, 1956. It has been further held that in view of the facts and circumstances of the case and the offer made by the applicant who was a tenant in the aforesaid premises at a rate, which the valuer had found on the assumption that vacant possession of the flat was to be given, the price offered is fair. So far as the impugned order dated March 6, 2003, is concerned it makes reference to C.A. No. 1641 of 199....
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....ursuant to that valuation opportunity having given to the appellant to purchase the property in terms of the said valuation but the appellant having failed to pay the sum themselves or to provide any other buyer, it simply demonstrates that the valuation report obtained by the appellant was of no credence. All that the appellant succeeded in doing was to stop the sale of the property from 1997 till 2005. It is relevant to reproduce the order passed by the company court on December 1, 2000 : "C.A. No. 1641 of 1999 in C.P. No. 60 of 1994. The applicant, DCM Shriram Consolidated Ltd. is a company incorporated under the Companies Act. As per agreement dated September 1, 1992, between the applicant-company and DIOR International (compan....
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....the flat. In the alternative the applicant has also prayed for a direction to the official liquidator to pay stock refund the security deposit of Rs. 45,00,000 to the applicant-company immediately and take possession of the flat. M/s. Alfa Engineering Consultants were appointed to value the property in question. As per the valuation made by them if vacant possession of the property is available, the value of the property would be Rs. 1,14,75,000. The applicant is willing to purchase the property for the said price. The liquidator, who is present in court, submits that the valuation made by the approved valuer is reasonable and that the application may be allowed to purchase the property for the abovementioned price. The liquidator also s....