2019 (2) TMI 95

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....otice in the appeal as well as in the interim application to the respondent. Mr. Nitesh Rana, counsel for the respondent accepts the notice. Let the replies be filed within six weeks with an advance copy to the counsel for the appellant who may file the rejoinders four weeks thereafter. 2. List the appeal for final hearing on 20th May, 2019. 3. The counsel for the appellant is pressing for interim order which is strongly opposed by the Nitesh Rana, counsel for the respondent. The subject matter of the property attached by the respondent/ED is also attached under the Prohibition of Benami Property Transaction Act, 1988 which is not disputed by Mr. Rana however he states that in addition to the attachment of the property by the ED who a....

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....r who holds the property for the benefit of the party who, ultimately, may be adjudged by the Court to be entitled to the same. The learned counsel for the respondent was not able to bring to our notice any ruling of any Court in India, holding that a sale held without notice to the Receiver or without the leave of the Court appointing the Receiver in respect of the property, is void ab initio. In the instant case, we do not think it necessary to go into the question raised by the learned counsel for the respondents that a sale of a property in the hands of the Court through its Receiver, without the leave of the Court, is a nullity. The American Courts appear to have taken the view that such a sale is void. In our opinion, it is e....