M/S.Sri Vijetha Horticulture (I) Ltd.(In Liqn) v. -

The Hon'ble Sri Justice C.V.Nagarjuna Reddy Company Application No.84 of 2015 Dated 09.02.2015 Between:

M/s.Sri Vijetha Horticulture (I) Ltd. (in Liqn.) rep. by the Official Liquidator, High Court of Judicature at Hyderabad ...Applicant Counsel for the Applicant: Mr.M.Anil Kumar, Counsel for OL The Court made the following:

Order:

This Company Petition is filed for placing on record the receipt of the entire sale consideration of Rs.2,85,00,000/- in respect of lot No.1 comprising the land admeasuring Acs.75-31 cents together with cashew nut trees, teak trees, mango trees, bamboo plantation, eucalyptus trees, mangeum trees etc., situated in Survey Nos.95, 96/2, 96/3, 99, 100, 101/2, 102 and 113 at Sankaram Village, Madugula Mandal, Visakhapatnam District, and also the receipt of the entire sale consideration of Rs.91 lakhs in respect of lot No.2 comprising the land admeasuring Acs.20-07 cents

together with teak trees, red sander wood trees, mangeum trees and survey trees situated in Survey Nos.27, 29/2, 30, 28/1 and 26 at Lova Krishnapuram Village, Madugula Mandal, Visakhapatnam District, from the successful purchaser viz., Mr.M.Krishna Rao and to permit the Official Liquidator to execute the necessary sale deeds in favour of the persons mentioned in the letter filed as Annexure- D. The Official Liquidator has also prayed that the costs of this Company Application do come out of the assets of the Company in liquidation.

By Order, dated 22-12-2014, this Court has confirmed the sale of the two lots referred to above in favour of the auction purchaser. In pursuance thereof, the auction purchaser is stated to have paid the entire sale consideration within the time stipulated by this Court and requested the Official Liquidator to handover the possession of the auction property at the earliest. At the hearing, Mr.M.Anil Kumar, learned Counsel for the Official Liquidator, submitted that as the entire sale consideration has been paid by the auction purchaser, the Official Liquidator may be permitted to execute the sale deeds in favour of the auction purchaser and four of his nominees as requested by him vide his letter, dated 20-01-2015, received by the Official Liquidator on 27.01.2014 (Annexure B).

In the light of the above-noted facts and the submissions made by the learned Counsel for the Official Liquidator, the Company Application is allowed as prayed for.

______________________ (C.V.Nagarjuna Reddy, J) Dt: 9th February, 2015 LUR