THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.569 of 2011 18th October, 2011 Between :- P.Rajeshwari .. Applicant And M/s.HDFC Bank Limited, Through its Branch at 5-4-94 to 97, MG Road, Ranigunj, Secundrabad And others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.569 of 2011 ORDER:- This application has been taken out by Smt.P.Rajeshwari seeking a direction to the Official Liquidator to remove the seal put on the cellar and ground floor of the premises bearing No.8-3- 169/B. The applicant is the owner of the premises bearing No.8-3- 169/B. She let out the premises to M/s.Prathyankara Electronics Pvt.Ltd. Initially the lease period was five years from 1-9-2001 to 31-8- 2006. A fresh lease deed came to be entered for another five years commencing from 1-9-2006 to 31-8-2011. The rent fixed was Rs.9,900/- per month for the first 3 years and thereafter at Rs.10,900/- for the balance period. In the meanwhile, M/s.Prathyankara Electronics Pvt.Ltd., went in liquidation and the Official Liquidator took possession of the premises on 25-2-2011 and sealed the main gate, front door and rear door of the front block of the premises. She submitted representation to the Official Liquidator on 1-3-2011 to remove the seal as it was affecting her ingress and outgress to her house and as she let out the 1st and 2nd floor to other lessees. There being no response from the Official Liquidator, she moved this instant application with the prayer stated supra. The Official Liquidator placed on record his report. It is stated in the report that the Official Liquidator is taking necessary steps to sell the movable assets of the Company. Unless and until sale of movable assets is effected, he is not in a position to handover the premises to the applicant. This Court by order dated 16-8-2011 has given liberty to the Official Liquidator to get the movable properties valued by any of the panel valuers and submit report. Accordingly, the Official Liquidator got valued the movable properties of the Company available in the premises owned by the applicant and placed on record the report of the valuer. As per the report, the total value of the movable properties of the Company (in Liqn) available in the leased premises is Rs.72,310/-. None of the parties filed objections to the valuation report. Heard the learned Counsel appearing for the parties. Learned Counsel appearing for the applicant submits that the applicant is prepared to deposit the value of the movables so as to enable the applicant to take possession of the premises from the Official Liquidator. Indisputably, the applicant is the owner of the premises and the said premises has been taken on lease by the Company (in Liqn). The Official Liquidator took possession of the assets of the Company which includes movables available in the leased premises. Since the applicant being the owner of the premises and as she is prepared to deposit Rs.72,310/- towards value of the movables, I do not see any impediment in directing the Official Liquidator to remove the seal of the premises and handover the same to the applicant. Accordingly, the Company Application is ordered directing the Official Liquidator to remove the seals and handover the vacant possession of the premises to the applicant on deposit of Rs.72,310/- (Rs.Seventy two thousand, three hundred and ten only). _________________________ B.Seshasayana Reddy, J 18th October, 2011 smr