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TMI Blog2007 (12) TMI 283X X X X Extracts X X X X X X X X Extracts X X X X ..... brief, are that one M/s. Kanav Steels (P.) Ltd., was incorporated as a company under the Act on 11-2-1985. The name of the said company was changed to M/s. Shree Dewan Steels (India) Ltd., on 31-5-1990, which is the present company which went into liquidation vide order dated 10-2-1999, of the learned company judge. The Official Liquidator attached to this Court was appointed as its liquidator. 4. The company in liquidation was deeply in debts. The Central Bank of India, one of its secured creditors, had also filed an application for recovery of the amount due to it before the Debts Recovery Tribunal, which was decided on 17-3-1999. 5. Vide order dated 11-1-2006, the Official Liquidator was permitted to conduct the sale of immovable and movable assets of the company in liquidation by associating the secured creditors and in pursuance of the said order, one Avtar Singh was found to be the highest bidder of the composite lot, having made bid for Rs. 5.2 crores. An application was filed by the Official Liquidator for confirmation of the sale, which was pending consideration before the learned company judge. 6. In the meantime, a dispute was raked up by M/s. Rishi Steel Traders, M/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d sale deeds. Land measuring 1 kanal and 14 marlas is part of the land purchased in the name of Chatley Steels (P.) Ltd., vide sale deed dated 12-9-1998, whereas 4 kanals and 18 marlas of land has been purchased on 28-12-1988, land measuring 3 kanals and 1 marla was purchased vide two separate sale deeds in the name of Naresh Chatley, i.e., land 1 kanal and 14 marlas and 1 kanal and 7 marlas on 29-12-1989. The vendor of all the sale transactions is aforesaid Navtej Singh. All the sales have been executed by Navtej Singh on the basis of jamabandi for the year 1983-84. 9. The applicants categorically stated that through the abovesaid five sale deeds, total land measuring 36 kanals and 18 marlas was purchased for setting up steel plant and after the purchase of the land, a boundary wall was raised on the entire area. The site plans were also attached by the applicants. 10. An additional affidavit was also filed along with Company Application No. 146 of 2007, wherein the following averments were made : ". . . That the corporate premises of Sh. Dewan Steels India Ltd. ('SDIL') comprised of area 36 kanals 18 marlas bounded with one boundary wall has three different individual titles, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of the execution of the decree passed by the civil court, still it is to be treated as sale of a share of a joint land. The question of actual physical possession to the extent of land purchased by the company in liquidation. Naresh Chatley and Chatley Steels (P.) Ltd., has to be settled in partition proceedings. Thus, on the basis of site plan and the revenue record, it is found that the land was being used by the company in liquidation; Naresh Chatley and Chatley Steels (P.) Ltd., in husband like manner. Though it appears that a separate passage was provided for access to the rear portion of the land but that is the arrangement arrived at by the parties for convenient use of the land. The entire land sold by Navtej Singh to three different entities is to be deemed as a sale of a share of suit land only. The specific portion can be obtained by the parties in pursuance of partition of such joint land. In view of the above, the aforementioned company applications stand disposed of." 13. Aggrieved by the aforesaid order of the learned Company Judge, Shri Naresh Chatley filed this appeal through his power of attorney holder-Shri Vibhu Raj Jhanji. 14. Upon notice of motion havin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resent. His attorney prays that ten days time may be granted to produce him in the court. We feel the person in question is being evasive and is playing truant with the court. However, at the request of his attorney, adjourned to 1-10-2007. Let the ex-managing director be present in court on the next date of hearing." 19. On 28-9-2007, an application being C. M. No. 180 of 2007, came up for hearing in which it was pleaded that Vibhu Raj Jhanji cannot attend the court as he is down with problem of his back. He also sought the exemption of appearance of Shri Naresh Chatley. The following order was passed on that date : "On 20-9-2007, we had observed in the main appeal that in the special power of attorney filed by the ex-managing director Mr. Naresh Chatley, the address has not been disclosed. We had also observed that we were not satisfied with the genuineness of the special power of attorney and the manner in which it has been attested by the Notary Public at Ludhiana, in view of the fact that the essentials of the particulars of the executor were not complete. We directed the personal appearance of the ex-managing director in this court after ten days. When that order was pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chatley put in appearance and tendered his apology for his conduct. This court directed Shri Chatley to file an affidavit in support of the appeal as sufficient doubt had been created in the mind of the court that the appeal filed through attorney was not bona fide. 23. The order passed on 17-10-2007, reads as under : "C.M. Nos. 187 and 188 of 2007 : C.M. allowed. Affidavits of Vibhu Raj Jhanji along with documents be taken on record. Company Appeal No. 16 of 2007 : Present appeal has been filed by Mr. Vibhu Raj Jhanji who is a lawyer as well as an attorney of the appellant. On 20-9-2007, while perusing the documents, we had directed the presence of ex-managing director Naresh Chatley as we were not satisfied with the genuineness of the special power of attorney, and the manner, in which the same was attested by the Notary Public at Ludhiana, as the essentials of the particulars of the executor were not complete. At that stage, we had directed the personal appearance of the appellant in the court. On that day, he made a statement in the court that he would produce Naresh Chatley, on whose behalf the appeal has been filed in court within half an hour as he was in the near vici ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Let the matter be taken up after half an hour. Mr. Vibhu Raj Jhanji has produced Naresh Chatley in the court. Naresh Chatley has tendered apology for his conduct. Let an affidavit in support of the appeal be filed by Naresh Chatley within a period of four weeks. Re-notify for hearing on 30-11-2007. Let the amount received in the auction be deposited in an interest bearing account by the Official Liquidator to safeguard the interest of the auction purchaser." 24. Thereafter, the matter was taken up on 30-11-2007, i.e., the adjourned date, and once again, counsel for the appellant was changed and one Shri Sandeep Jain, advocate, appeared and pleaded that the matter be adjourned for a few days to enable him to make his final submissions. The prayer was, in the interest of justice, accepted and the matter was adjourned to 4-12-2007. 25. Today, there is another change of counsel and this time, Shri A.K. Matta, senior advocate with Sarv Shri K.K. Khurana, Sandeep Jain, M.S. Ratta and Vaibhav Dang, advocates, has appeared for the appellant and pleaded that some time may be given to him as Shri Naresh Chatley was interested in amicably settling the controversy and was keen to disc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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