IN THE HIGH COURT OF JUDICATURE ANDHRA PRADESH AT HYDERABAD WEDNESDAY THE FIRST DAY OF DECEMBER TWO THOUSAND AND TEN PRESENT THE HON’BLE MS. JUSTICE G. ROHINI COMPANY APPLICATION No. 1083 of 2010 In R.C.C.No. 1 4 of 1999 Between: M/s. Sri Laxmi Saraswathi Papers Ltd. (In Liqn) Represented by the Official Liquidator High Court of AP Hyderabad … Petitioner V/s. M/s. New Blue Star Iron Scrap (P) Ltd. D.No. 54-5-80A, 5th Road, J. Autonagar, Vijayawada … Respondent The Court made the following order : Order follows on 2nd page THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1083 OF 2010 IN R.C.C.No.14 OF 1999 ORDER : M/s. Sri Lakshmi Saraswathi Papers Limited was ordered to be wound up by this Court by order dated 28.11.2005 made in R.C.C.No.14 of 1999 and the Official Liquidator attached to this Court was appointed as Liquidator of the said Company. Subsequently by order dated 28.04.2006 made in C.A.No.457 of 2006, the Official Liquidator was permitted to take possession of the assets of the company and accordingly the possession was taken on 17.5.2006. In pursuance of a subsequent order dated 11.12.2006 made in C.A.No.1620 of 2006 the assets of the company in liquidation comprising of Ac.83-25 guntas of land together with the buildings, plant and machinery were put to sale in two lots. The offer of Rs.824 Lakhs made by M/s. New Blue Star Iron Scrap (P) Limited – the respondent herein for both Lot Nos.1 & 2 was accepted by this Court and the sale in its favour was confirmed by order dated 22.02.2007 in C.A.No.1620 of 2006. However it was subsequently noticed that the actual land available in Lot No.1 is to an extent of Ac.84-05 guntas as against Ac.83-25 guntas shown in the sale notice. On a survey conducted by the Mandal Revenue Officer, it was found that the excess land admeasuring Ac.0-20 guntas was situated in Sy.No.220, Neela Village, Ranjal Mandal, Nizamabad District. Since a sale deed was already executed by the Official Liquidator in respect of Ac.83-25 guntas of land in Lot No.1 in favour of Tungenolla Subhash Kumar and Sangi Srinivasa Rao, the nominees of the respondent company, and the respondent company was willing to purchase the excess land of 20 guntas also on proportionate value, the Official Liquidator filed C.A.No.552 of 2010 and this Court by order dated 9.8.2010 directed the Official Liquidator to negotiate with the respondent company. In pursuance thereof, the negotiations were held by the Official Liquidator and it was agreed by the respondent company to pay Rs.28,000/- for the excess land of 20 guntas i.e., at the rate of Rs.56,000/- per acre which is more than the market value. The said offer made by the respondent company was recorded by this Court on 17.08.2010 and the Official Liquidator was permitted to receive the said amount from the respondent company towards sale price for the extent of 20 guntas. Accordingly, the said amount of Rs.28,000/- paid by the respondent company by Demand Draft bearing No.633750, dated 14.8.2010 was received by the Official Liquidator under Receipt No.6786, dated 17.8.2010. Thereafter the respondent company by letter dated 19.10.2010 requested the Official Liquidator to hand over the said land of 20 guntas and also to execute the sale deed in favour of their nominee Tungenolla Subhash Kumar. Hence the present application by the Official Liquidator seeking permission to deliver the said land of 20 guntas and to execute the necessary sale deed in favour of the nominee of the purchaser/respondent company. I have heard Sri M. Anil Kumar, the learned counsel appearing for the Official Liquidator as well as Sri Md. Akheel, the authorized representative of the respondent company, who appeared in person. Having regard to the admitted fact that the sale consideration of Rs.28,000/- was paid by the respondent company in respect of the excess land of 20 guntas situated in Sy.No.220, Neela Village, Ranjal Mandal, Nizamabad District in terms of the order dated 17.8.2010 passed by this Court in C.A.No.552 of 2010, there can be no further impediment for executing the sale deed in favour of the nominee of the respondent company and to hand over possession of the said land. Accordingly, the Application is allowed as prayed for and the Official Liquidator is hereby permitted to hand over the 20 guntas of land situated in Sy.No.220, Neela Village, Ranjal Mandal, Nizamabad District to Sri Tungenolla Subhash Kumar, the nominee of the respondent company and to execute the necessary sale deed in his favour in respect of the said land. ____________ G. ROHINI, J. Dt. 01.12.2010 ISL + GBS THE HONOURABLE MS. JUSTICE G. ROHINI COMPANY APPLICATION No. 1083 of 2010 In RCC.No. 14 of 1999 01-12-2010 I s L