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TMI Blog2011 (3) TMI 1453X X X X Extracts X X X X X X X X Extracts X X X X ..... e as to what amount has been deposited/paid by the appellants to the respondent-company and after determining the said amount, pass an order directing refund of the same along with simple interest at 4 per cent per annum from the date of deposit. Needless to say, the Official Liquidator shall determine the said amount after giving an opportunity of hearing to the appellants. The Official Liquidator is also directed to pass a reasoned order within a period of four months from today. - CO. A(SB) NOS. 2 AND 3 OF 2010 - - - Dated:- 3-3-2011 - MANMOHAN, J. Mohit Kumar Shah for the Appellant. Rajiv Bahl for the Official Liquidator. Ms. Manisha Singh and Ms. Swati Setia for the Reserve Bank of India . JUDGMENT 1. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nayak Jai Prakash Narain Awas Yojna, Patna (for short "Yojna"), which lands are incapable of either demarcation or handing over to the appellants. In this connection, Mr. Bahl has relied upon the report furnished by the committee headed by Mr. B. N. Singh, former Chief Regional Planner, NCR Planning Board, New Delhi. The extract of the said report reads as under : "Part II Lok Nayak Jai Prakash Narain Awas Yojana, Patna The Committee visited Patna on 25 and 26 August, 2009 to look into the development works of Lok Nayak Jai Prakash Narain Awas Yojana, undertaken by the company in liquidation. The details of the said yojana are as below : 1. Nature and Extent of Land owned by Company in Liquidation. The land of the yojana falls in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mittee members looked into the title records and village maps made available by the Official Liquidator's office and local revenue authorities. The extent of land acquired on the basis of the power of attorney in favour of Mr. V. K. Sharma and Mr. Lallan Kumar Singh in village Manpur Bairiya based on the documents produced by the Official Liquidator is 2.376 hectare (5.87 acres) and the land in village Pahari, as informed by the local revenue official, proposed to be acquired by the company but still in the name of the villagers is 2.521 hectare (6.23 acres). Thus the total land in the two villages works out to 4.897 hectare (12.10 acres). 2. Site Plan setting out the boundary of the property and developmental works undertaken. The site ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Panchayat) and no development work has been done in the area. However, the site of village Pahari falls within the limits of Patna Municipal Corporation. The Official Liquidator's office approached Patna Municipal Corporation to inquire the status of approval of layout plan by them. The municipal commissioner, Patna Municipal Corporation has informed vide his letter dated August 27, 2009 that no approval of the plan for the yojana has been accorded (Annexure XII). No copies of sanctioned plans have been made available to the committee and the committee relied on the layout plans made available by the office of the Official Liquidator for site inspection. No services plans (road networks with cross sections, water and sewer lines, storm w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proach of Thareja committee is untenable in law. Admittedly, the appellants have based their rights to the respective plots of land under the sale deeds dated July 16, 1998. Since in the present cases the alleged sale deeds are subsequent to the date of filing of the winding up petition, i.e. , 4-6-1998 and appointment of the provisional liquidator, i.e. , 5-6-1998, the sale deeds are void by virtue of sections 536(2) and 537(1)( b ) of the Companies Act, 1956. The said provisions are reproduced hereinbelow : "536. Avoidance of transfers, etc., after commencement of winding up . . . (2) In the case of a winding up by or subject to the supervision of the court, any disposition of the property (including actionable claims) of the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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