9911796707
TMI Blog2003 (3) TMI 530X X X X Extracts X X X X X X X X Extracts X X X X ..... property in question and the learned Company Judge has protected the interests of the parties by directing the Administrator to separately keep the amounts realised from the lease in a separate account, the interest of the petitioner is well-safeguarded. As also noticed that the Appellate Court in the impugned order has specifically left open the right of the petitioner to establish its title in s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dministrator, belonged to the company under winding- up. The petitioner herein in the said application contended that it is the bona fide purchaser for valuable consideration of the property in question hence application of the administrator should not be allowed. 3. Learned Company Judge rejecting the contentions of the petitioner herein directed the official liquidator to take custody of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... forms part of this order. . ." 4. Thus, it is seen that the impugned order is based on the consent of parties. 5. In this special leave petition, Mr. C.A. Sundram, learned senior counsel appearing for the petitioner contended that there was no application from the official liquidator as contemplated under section 531A of the Companies Act, and without there being such order as is required ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n application made by the concerned party under section 531A of the Act, but in our opinion, since the lease in question is being granted with a view to preserve the property in question and the learned Company Judge has protected the interests of the parties by directing the Administrator to separately keep the amounts realised from the lease in a separate account, we feel the interest of the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X
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