IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) WEDNESDAY, THE THIRTIETH DAY OF JULY TWO THOUSAND AND EIGHT PRESENT THE HON'BLE MR JUSTICE GODA RAGHURAM WRIT PETITION NO : 15670 of 2008 Between: M/s. Premier Agro Industries, Rep. by partner, Chowdary Mohamed Hussain, S/o. Mohamed Sardhar Hussain residing at H.No. 22-2-700/4/A, Panjatan Colony, Darusifa, Hyderabad ..... PETITIONER AND A.P.State Finacial Corporation ( Indcorporated under the State Finacial Corporations Act LXIII of 1951), Rep. by the Managing Director, Chirag Ali Lane, Post Box No. 165, Abids, Hyderabad. .....RESPONDENT Petition under Article 226 of the constitution of India praying that in the circumstances stated in the Aﬃdavit ﬁled herein the High Court will be pleased to to issue an appropriate writ, order or direction, especially a writ of Mandamus directing the respondent to duly register the sale deed dated 25.6.2008 in favour of the petitioner in respect of the as sets purchased by the petitioner and further conseqeuntially compensate the petitioner by appropriate directions for the ﬁnancial loss and / or damage caused to the petitioenr by the respondent and pass Counsel for the Petitioner:MR.Y.N.LOHITA Counsel for the Respondent No.: MR.M.S.RAMACHANDRA RAO The Court made the following : THE HON’BLE SRI JUSTICE GODA RAGHURAM W.P.No.15670 of 2008 Oral Order: The substantive grievance of the petitioner is as to the failure of the respondent in registering the sale deed dated 25-06-2008. Pursuant to exercise of powers under Section 29 of the State Financial Corporations Act, 1951, the respondent oﬀered for sale the land, building and the machinery of the defaulting unit--M/s. Sri Rama Rice Mill Pvt., Ltd., in survey No.63 to 66, Panchedu village, Buchireddipalem Mandal, Nellore district on “as is where is” basis. The petitioner oﬀered to purchase the assets notiﬁed for sale for a consideration of Rs.84,50,000-00. The oﬀer was accepted and the respondent called upon the petitioner to remit the sale consideration in three installments of Rs.26.50 lakhs each. Pursuant to the sale conﬁrmation issued by the respondent on 10-06-2008, the petitioner deposited the total sale consideration. The respondent has also delivered possession of the assets under a mediator’s report dated 24-06-2008. The respondent got drafted a sale deed, dated 25- 06-2008. However, the respondent did not turn up for registration. Hence the writ petition. On behalf of the respondent a counter aﬃdavit is ﬁled by the Branch manager, Nellore. The material facts as asserted in the writ petition are admitted. The counter further states that in the third week of June, 2008, the promotor/loanee i.e., M/s. Sree Rama Rice Mill Pvt., Ltd., has ﬁled W.P.No. 13487 of 2008 in this Court assailing the sale by the respondent of the assets. No interim orders were however granted by this Court. The respondent was in the circumstances considering whether to proceed with the execution of the sale deed and in the meanwhile the writ petition is ﬁled. In paragraph No.4 of the counter aﬃdavit the respondent admits and states that it has no objection to execute the sale deed subject to the result of W.P.No. 13487 of 2008 provided the writ petitioner takes the risk of such a course of action and bears the loss any amount incurred towards registration in the event of writ petition being allowed. The learned counsel for the writ petitioner states that the petitioner desires to have the registration and accepts the risk of success in the writ petition – W.P.No. 13487 of 2008, by the petitioner therein. In the circumstances above and in view of the acquiescence in the counter aﬃdavit that the respondent has no objection and is willing in fact to register the sale deed, the writ petition is disposed of directing the respondent to execute the sale deed within a week from today. The writ petition is disposed of as above. No costs. ____________________ GODA RAGHURAM, J Dated: 30-07-2008 pvks Nb:- Furnish c.c. as soon as possible. B/o pvks/*