TaxTMI 
TaxTMI 
2022 (4) TMI 881
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....ter entering Shri. S.K. Pandyan, Proprietor of M/s. S.K., Traders (applicants name) in respect of Vehicle viz. TN 59 BW 1415 (Etcher), TN 59 BT 4747 (Motor Bike - Star City) & TN 59 BW 8300 (Motor Bike - Star City); and b. To pass such other orders and further reliefs which may deem to be fit and proper in the interest of justice. 2. The Learned Counsel for the Applicant submitted that the Corporate Debtor viz. Sun Brushware Private Limited in under liquidation vide order dated 25.11.2019 and the 1st Respondent was appointed as the Liquidator. It was submitted that the 1st Respondent has brought for sale through E-Auction sale notice dated 06.10.2020, fixing the E-Auction sale on 04.11.2020 and the Applicant has submitted bids in respect....
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....he Road Tax from 01.01.2019 and other charges for the said vehicles in order to consider the said Application and when the Applicant had enquired the 2nd Respondent in this regard, he was informed that he should get a no-objection letter from the hypothecation charge holder viz. Cholamandalam Investment Finance Company and only after completion of the said formalities, name transfer can be effected. 5. The Learned Counsel for the Applicant submitted that on enquiry with the 1st Respondent it was revealed that no claim was made either by the 2nd Respondent nor by the Cholamandalam Investment Company within the due date as mentioned and that the Applicant who is a third party bonafide purchaser who has participated in the e-auction and purch....
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....erty, prior to submitting their bid. The e-auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of the Liquidator. The property is being sold with all the existing and future encumbrances whether known or unknown to the Liquidator. The Liquidator shall not be responsible in any way third party claims/rights/dues/. 8. The above extracted clause would clearly manifest the fact that the property of the Corporate Debtor has been sold with existing and future encumbrances whether known or unknown to the Liquidator. The Applicant who is very well aware of the said terms and conditions imposed by the Liquidator has participated in the E-Auction Sale and has emerged as the successful b....