IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Date of Decision : 20.08.2010 C.P.No.6 of 2010 IN THE MATTER OF M/s Punwire Mobile Communication Ltd. (in Liquidation) …Petitioner Versus Industrial Financial Corporation of India and another …Respondent CORAM: HON'BLE MR. JUSTICE HEMANT GUPTA Present : Mr. Neeraj Khanna, Advocate, with Mr. D.P.Ojha, O.L., for the petitioner. Mr. Manish Jain, Advocate, for respondent No.1. Mr. K.D.Aggarwal, Advocate, for respondent No.2. HEMANT GUPTA, J. (ORAL) Present is a petition for confirmation of sale of moveable assets of the Company (in liquidation) i.e. M/s Punwire Mobile Communication Limited, lying in the branch offices of the Company situated in the States of Kerala, Tamilnadu and Andhra Pradesh. This Court on 26.05.2005 permitted the Official Liquidator to sell the assets and the property of the Company (in liquidation). The sale of moveable assets lying in 63 branch offices were confirmed, but the sale of moveable goods of the Company (in liquidation) in the States of Kerala, Tamilnadu and Andhra Pradesh was permitted to be carried out through distribution of pamphlets and by affixing of notices in public places through C.P.No.6 of 2010 the staff of the Official Liquidator by dispensing with the requirement of publication in newspapers, keeping in view the value of the assets involved. In pursuance of the said permission, one Mr. Ramjas Khinchi has offered to purchase the moveable assets lying in the Branch Offices as given in para No.11 of the petition. It is also pointed out that the landlord of Ranipet branch office of the Company (in liquidation) that he will not allow the opening of the lock of the premises unless a sum of Rs.7,30,800/- is paid. Similar is the situation in respect of branch office situated at Tirur (Kerala). Mr. Manish Jain and Mr. K.D.Aggarwal, Advocates representing respondent Nos.1 and 2 respectively, have no objection in confirmation of sale in favour of Mr. Ramjas Khinchi on “AS IS WHERE IS BASIS”. However, in view of the resistance threatened by the landlords at Ranipet branch office and Tirur branch office (Kerala), the concerned District Magistrates are directed to provide necessary assistance for removal of the goods by the prospective purchasers. The Official Liquidator shall hand-over the possession of the assets mentioned in para No.11 of the petition on receipt of full sale consideration by the prospective vendors. However, liberty is given to the Official Liquidator to initiate separate proceedings against Mr. Nazamuddin, representative of the landlord namely Mr. Endudheen Kutty Haji, to claim the amount as sought in prayer (d) of the petition. With the said observations and directions, the petition stands disposed of. 20.08.2010 (HEMANT GUPTA) Vimal JUDGE 2