THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY C.A.NO.624 OF 2011 ORDER This application has been taken out under Section 457 (1) ( c ) of the Companies Act, 1956 read with Rule 9 of the Companies Court Rules, 1959, to permit the Official Liquidator to handover the company’s land admeasuring Ac.130.48 cents together with buildings, RCC works and movable items situated at Chintapally Village, Poosapatirega Mandal, Vizianagaram District to the purchaser viz., M/s. P.V.Srikanth & Associates and also to execute necessary sale deed for land admeasuring Ac.130.48 cents. This Court by an order dated 13-11-2008 permitted the Official Liquidator to put sale of the property of the company in liquidation by fixing minimum upset price at Rs.360 lakhs and EMD at Rs.36 lakhs by publishing the sale notice in Eenadu, The New Indian Express and Sakshi of Vizianagaram and Visakhapatnam District Editions. The Official Liquidator put the property to sale and one M/s. P.V.Srikanth & Associates became the highest bidder. The sale in favour of M/s. P.V.Srikanth & Associates came to be confirmed by this Court as per orders in C.A.No.1076 of 2008 dated 13-11-2009. Subsequently, M/s. P.V.Srikanth & Associates paid the entire sale consideration with interest at 12% p.a. The instant application has been moved by the Official Liquidator seeking the reliefs as stated supra. Since respondent No.4- M/s. P.V.Srikanth & Associates paid the entire sale consideration along with interest, there cannot be any impediment in permitting the Official Liquidator to handover the possession of the property viz., land admeasuring Ac.130.48 cents together with buildings, RCC works and movable items situated at Chintapally Village, Poosapatirega Mandal, Vizianagaram District and execute the registered sale deed. Accordingly, the company application is ordered. ____________________________ B.SESHASAYANA REDDY,J rkk Dated: 17-6-2011