THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1733 of 2011 Date:29th November, 2011 Between: The Official Liquidator, High Court of Andhra Pradesh and, The Liquidator of M/s.Sri Raja Rajeshwara Finance & Investments Ltd. (In liquidation). …Applicant *** THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1733 of 2011 ORDER: This Company Application has been moved by the Official Liquidator representing M/s.Sri Raja Rajeshwara Finance and Investments Ltd. (in liquidation) under Section 457(1)(e) of the Companies Act, 1956, (for short, ‘the Act’) r/w. Rule 9 of the Companies (Court) Rules, 1959, (for short, ‘the Rules’) seeking to appoint a registered chartered valuer to value the immovable assets viz., land admeasuring 82.57 sq. yards together with building, situated at H.No.1-1-1128, Camp Road, Korutla, Karimnagar District, and fix his valuation fee. 2. This Court, by order, dated 03.10.2005, passed in Company Petition No.100 of 2002, directed for winding up of M/s.Sri Raja Rajeshwara Finance and Investments Ltd. and appointed the Official Liquidator attached to this Court as Liquidator by virtue of Section 449 of the Act. The Official Liquidator issued notices under Sections 454 and 456 of the Act to all the Ex-Directors of the Company (in liquidation). On perusal of the records of the Company (in liquidation), the Official Liquidator noticed that the Company (in liquidation) possess land admeasuring 82.57 sq. yards together with building at H.No.1-1-1128, Camp Road, Korutla, Karimnagar District. The Official Liquidator deputed his officials for taking possession of the assets and records of the Company (in liquidation) situated at its registered office at H.No.1-1-1128, Camp Road, Korutla, Karimnagar District. The deputed officials had reported that in the above said premises M/s.Bhavani Plastic Agency and its family members are inoccupation on rental basis and the Company (in liquidation) vacated the premises six years ago. The Official Liquidator enquired with the Sub-Registrar, Metpally, and also collected documents pertaining to the said premises. The documents reveal that the above premises was originally owned by the Company (in liquidation). But, the Ex- Managing Director of the Company (in liquidation) deliberately alienated the said immovable property. The Official Liquidator filed Company Application No.117 of 2008 under Section 536(2) r/w. Sec.537(1)(b) of the Act, r/w. Rule 9 of the Rules to set aside the sale of registered office premises of the Company (in liquidation). The said application came to be allowed on 20.07.2010. Aggrieved by the orders passed in Company Application No.117 of 2008, an appeal came to be filed and the said appeal being O.S.A.No.20 of 2010 ended in dismissal. The Official Liquidator took possession of the premises on 11.05.2011. This Court, by order, dated 12.07.2011, passed in Company Application No.680 of 2011 permitted the Official Liquidator to appoint M/s.Rao & Associates, Chartered Engineers, Greenlands, Ameerpet Road, Hyderabad – 16, as valuer to value the said property. However, M/s.Rao & Associates, Chartered Engineers expressed their inability to take up the valuation work and requested the Official Liquidator to remove their name from the panel of the valuers. Hence, this Company Application with the prayer stated supra. 3. Heard learned counsel appearing for the applicant and perused the material brought on record. 4. Since the earlier valuer expressed his inability to take up the work, I am of the view that the application can be allowed appointing Sri Pradeep Kaparthi, 105, 1st Floor, Dimond Towers, Beside Belson Taj Hotel, S.D.Road, Secunderabad – 500 003, as valuer to value the land admeasuring 82.57 sq. yards together with building at H.No.1-1- 1128, Camp Road, Korutla, Karimnagar District. His fee is fixed at Rs.15,000/- (Rupees Fifteen Thousand only). 5. Accordingly, the Company Application is allowed. No costs. _____________________ B.SESHASAYANA REDDY, J Date:29th November, 2011. cs THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1733 of 2011 Date:29th November, 2011