1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.3955 OF 2008 IN APPEAL NO.433 OF 2008 IN CHAMBER SUMMONS NO.200 OF 2008 IN SUIT NO.3406 OF 1999 M/s.Ruby Mills Ltd. and Anr. .. Appellants Vs. M/s.Hico Ltd. and Ors. .. Respondents MrD.B.Shroff, Sr.Advocate with Mr.V.V. Kanade i/b M/s.N.C.Dalal and Co. for the appellant Mr.J.S. Saluja, A.G.P. for the State Mr.Kedar Dighe for the Official Liquidator Mr.Sachin Chandran with Mr.Swayam Chopde i/b M/s.M.K.Ambalal and Co. for the respondent no.1 Ms.Swati Deshpande i/b M/s.FZB & Associates for respondent no.4 and 5 Mr.Mayuresh Borkar i/b M/s.DSK Legal for respondent no.7 Mr.P.Ramarao, Official Liquidator present CORAM : J. N. PATEL & SMT. R.P. SONDURBALDOTA, JJ DATE : 11TH SEPTEMBER, 2009 2 P.C. : 1. Heard the learned counsel for the parties. 2. Our attention has been drawn to the various orders passed by the learned single Judges of this court in the matter of winding up proceedings of the company known as M/s.Ruby Mills Ltd. and Anr. at the instance of ICICI Ltd. The appeal is preferred impugning the orders passed by the learned single Judge on 3.7.08 in group of Chamber Summons as well as the Court Receiver s’ Report pertaining to M/s.HICO Ltd and Anr. And M/s.Ruby Mills Ltd and Anr. Our attention has been drawn to the earlier orders passed by this court in the matters of M/s.HICO Ltd and Anr.i.e. the orders passed at the instance of the M/s.Modern India Property Developers Ltd. in Court Receiver s Report No.93 of 2007 ’ in Suit No.3406 of 1999 wherein the learned single Judge of this court by his order dt.27.4.07 made it clear that the applicant has prayed that the Court Receiver be directed to pay the outstanding dues of the suit property situated at Khopoli and Kharsundi. After scrutiny of the said dues, this matter was again taken up by another learned single Judge of this court in Court Receiver s’ Report No.93 and by order dt. 26.7.07 it was clarified and it was further directed that the Court Receiver is directed to pay outstanding dues from the date of sale of auction till the date of 3 confirmation and it made clear that it does not preclude the respondent from paying any amount it is otherwise liable to pay interalia as per the terms and conditions contained in clause 29 thereof. It so happened that after the Court Receiver disposed of the property i.e. lot no.1 to the present appellant, the auction purchaser i.e. the appellant had already paid the amount of consideration by depositing it with the Court Receiver and has sought for execution of the conveyance in their favour which led to the passing of the impugned order. 3. Prima facie, we are of the view that the auction purchaser is not under any obligation to pay the dues of the company whose property he has purchased in response to the notice inviting tenders issued by the Court Receiver and having paid the amount of consideration is entitled to get the deed of conveyance executed in his favour. 4. In the meantime, the company has been ordered to be winded up by the company court. Official Liquidator came to be appointed. So the Court Receiver handed over the funds received by him out of disposal of the properties in the suit pending between the parties to the Official Liquidator. In view of the fact that the Official Liquidator represents the company under liquidation, he may execute the deed of conveyance in favour of the appellant. In 4 so far as the other claims are concerned, apart from the claim which is required to be discharged by the Court Receiver under the clause 29 of the general terms and conditions of the tender, the claimants can lodge their claim with the Official Liquidator who shall adjudicate it in accordance with the provisions of the Companies Act, 1956. 5. We make it clear that the Official Liquidator would have lien over the properties which is directed to be conveyed to the appellant in case any dues are found to be recoverable at the time of final disposal of this appeal. 6. Notice of Motion is disposed of accordingly. 7. The appeal to be listed for hearing in due course. ( J. N. PATEL, J) (SMT. R.P. SONDURBALDOTA, J.)