TaxTMI 
TaxTMI 
2012 (4) TMI 167
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....m the Official Liquidator, Co. Appl. No. 907/2009 has been filed by the workmen of the respondent company for release to themselves Rs. 60 lacs deposited with the Official Liquidator by the purchaser as well as former Directors of the company. 2. Mr. L.B. Rai, learned counsel appearing for workmen states that by virtue of a Compromise Deed dated 19th September, 2004, two Directors of the respondent company namely, Mr. Ajay Kumar Berry and Mr. Ashwani Berry had agreed to pay a sum of Rs. 60 lacs to the workmen from the sale proceeds of the aforesaid property. Mr. Rai, learned counsel has drawn this Court's attention to paragraph 1 of the aforesaid Compromise Deed which reads as under:- "1. Both the parties have agreed that the ma....
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....rs namely Ms. Geeta Suri and Ms. Kavita Kataria. The other sisters and brother of Sh. Ashwani Berry relinquished their shares in favour of Sh. Ashwani Berry who executed the aforenoticed two sale deeds. 2. On a prima facie consideration of the matter, it would appear that the property was never transferred in the name of the company. However Ms. Manisha Tyagi appearing for the official liquidator has pointed out that the ex-directors of the company are yet to appear and facilitate the enquiry being undertaken which would include all matters relating to the subject property. It has also been pointed out that an industrial plot of the company has been sold shortly before the filing of the present winding up petition in the year....
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....owing directions are issued:- (i) Subject to the applicant depositing an amount of Rs. 60 lakhs with the official liquidator, the official liquidator shall remove its symbolic possession and sealing of the property bearing no. K-78, Hauz Khas Enclave, New Delhi. The amount when deposited with the official liquidator shall be kept in a fixed deposit receipt initially for a period of six months which shall be kept renewed till further orders of this Court. The deposit shall be retained in this court till settlement of claims by the official liquidator and unless present orders are modified by any order prior thereto. It is stated that the amount shall be deposited without prejudice to the rights and contentions of the applic....
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....e was in dispute and an inquiry of the Official Liquidator on the said aspect was pending. 7. Mr. Kanwal Chaudhary, learned counsel for Official Liquidator submits that on a detailed inquiry conducted by the Official Liquidator, it has been found that the aforesaid property does not belong to the respondent company as it was owned by the father of Mr. Ashwani Berry in his individual capacity. 8. In rejoinder, Mr. L.B. Rai, learned counsel submits that former Directors are estopped from challenging the authenticity and validity of the Compromise Agreement as the Provisional Liquidator had been appointed on that basis and the said order has attained finality. 9. Having heard the parties at length, this Court is of the view that the a....
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....cuted by Sh. Ashwani Berry in favour of Mrs. Poonam Sharma Second Floor, with Terrace Area 498.3 sq.mt. (596 sq. yard). The photocopies of all the said documents are enclosed and marked as Annexure-H. 13. That on examination above documents obtained from Sub-Registrar office in respect of property bearing No. K-78, Hauz Khas Enclave, New Delhi it is noticed that the above said property was originally by M/s. DLF Housing and Construction Pvt. Ltd. to Shri P.K. Lahiri on 22.06.1961. Shri P.K. Lahari sold the same to Sh. S.S. Berry on 18.08.1964 much before the company in liquidation come into existence. Then after the death of Sh. Shanti Swarup Berry and Mrs. Krishna Berry, Shri Ajay Berry, Mrs. Kavita Kataria and Mrs. Geeta Suri relinquis....
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....orkmen have stated that they would file appropriate proceedings in a Court of competent jurisdiction within a period of four weeks, this Court directs the Official Liquidator to release the amount of Rs. 60 lacs with accrued interest to the entity/individual who has deposited the amount only after a period of six weeks i.e. only after 30th March, 2012. 16. With the aforesaid observations, CA 907/2009 stands disposed of. Co. Appl. 1308/2010 in Co. Pet. 294/2006 17. Present application has been filed by the Official Liquidator for cancellation of documents mentioned in its para 6 as well as for possession of premises bearing No. C-80, MIDC Waluj Industrial Area, Aurangabad, Maharashtra. 18. Service report filed by the Official Liq....