1 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY, APPELLATE SIDE, NAGPUR BENCH, NAGPUR COMPANY APPLICATION NO.91/2003 IN COMPANY PETITION NO.5/1997 Shri Bhaskar s/o Sopan Bargaje and another ...Versus... Official Liquidator, Indian Company Legal Services, Nagpur .................................................................................................................................. Office Notes, Memoranda of Coram, appearances, Court's orders or directions : Court's or Judge's orders and Registrar's orders. ................................................................................................................ (Smt. M.S. Jawalkar, Adv. for applicants) (Smt. S.S. Wandile, Adv. for Official Liquidator) CORAM : A.B. Chaudhari, J. DATED : 14.09.2007 This company application relates to the piece of land admeasuring 2754 sq. feet, bearing No. 28/1/86, village Pimple Nilakh, Taq. Haveli, District Pune. The said piece of land was sought to be sold by the Official Liquidator which was under the attachment by the C.I.D., Maharashtra State, Mumbai. 2 This application was heard by this Court from time to time. The Official Liquidator was given several opportunities to show the evidence for attaching the said property and then putting the same to sale. The Official Liquidator could not furnish any plausible evidence to establish that the said property had passed over to the Company under liquidation. It, however, appears that the applicants had admittedly received a sum of Rs.1,00,000/- from the Company under liquidation in the year 1996 and has utilized the said amount. The Official Liquidator is now satisfied upon verification of documents furnished by the applicants that it is not possible to sell the property belonging to the applicants for want of title in the Company under liquidation. Therefore, a statement has been made by the Official Liquidator that he would be satisfied, if the amount of Rs.1,00,000/- that was paid to the applicants is returned to him with interest. Counsel for the applicants was given an opportunity to take instructions from the applicants but she submits that the applicants are not ready to pay any interest on the said amount but would pay the amount of Rs.1,00,000/- which they had received in the year 1996. In view of above, following directions are issued. The applicants shall pay an amount of Rs. 3 1,00,000/- to the Official Liquidator along with sum of Rs. 40,000/- towards damages by way of interest within three months from today. Upon such payment being made to the Official Liquidator, the property in question shall be released from the attachment and accordingly the Official Liquidator will certify. Company Application stands disposed of. No order as to costs. JUDGE ssw