2006 (5) TMI 203

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....d in Annexure 1 appended to the application be fixed and the Official Liquidator be directed to disclaim the said land under section 535 of the Companies Act and the amount so fixed by this Court may be directed to be deposited by the applicant and further that the Official Liquidator be directed to transfer/assign the reversionary rights and other interests in the said land in favour of the applicant on the capitalised value so fixed by this Court. The piece of land which is in possession of the applicant Podar Mills Ltd. belongs to the Jaipur Spinning and Weaving Mills Ltd. (the company in liquidation) which was ordered to be wound up by this Court vide order dated December 2, 1983. After the winding up order all the properties of the com....

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....perties and thus the proceedings initiated by the Official Liquidator deserves to be dismissed in absence of the leave obtained from the Bombay High Court. This Court vide order dated July 5, 1991 allowed the Official Liquidator to implead the Court Receiver as party in the aforesaid application after obtaining leave from the Bombay High Court. The Official Liquidator through advocate filed application in the Bombay High Court and the same remained undecided and in the meantime the recovery suit came to transferred to the Debt Recovery Tribunal -I, Mumbai. The Debt Recovery Tribunal vide order dated November 22, 2001 discharged the Court Receiver with a direction to hand over the possession to the applicant. The applicant in these circumsta....