Ajinkya Medical And Research Foundation Through Trustee Ramesh R Kadam v. Konkan Steel Through Official Liquidator

sg 1/2 cal618-15.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO.618 OF 2015 IN COMPANY PETITION NO.476 OF 1993 Ajinkya Medical & Research Foundation ...Applicant In the matter between:

BIFR

...Petitioner

vs.

Konkan Steel

...Respondent

.....

Mr. Harshvardhan Salgaonkar, i/b. Harshad Sathe, for the Applicant. Mr. Mahendhar Aithe, Company Prosecutor from Official Liquidator's Office present.

.....

CORAM : S.C. GUPTE, J.

28 JANUARY, 2016 P.C. :

.

The Company Application seeks directions to the Official Liquidator to complete the formalities of transfer and registration of transfer in respect of premises, which have been sold under an order passed by the Company Court to the Applicant. There is a delay in taking out the present application. The Official Liquidator has no objection to the Company Application being allowed. The Applicant has already paid the entire purchase consideration as determined by the Court and is also put in possession of the premises. It is the Applicant's case that, through oversight, the formalities concerning transfer of the property were not pressed by the Applicant earlier. For reasons stated in the affidavit in

sg 2/2 cal618-15.doc support of the Company Application, the delay is condoned and the application is allowed in terms of prayer clause (a). The formalities of transfer and registration of transfer in terms of prayer clause (a) shall be completed by the Official Liquidator within two months of the Applicant's submitting a draft of the conveyance. The Applicant shall pay costs quantified at Rs.25,000/- to the Official Liquidator. (S.C. Gupte, J.)