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2025 Supreme(Kar) 1046

IN THE HIGH COURT OF KARNATAKA AT BENGALURU
E.S.INDIRESH
M.C. Somashekar S/o Late P.M. Channabasavanna – Appellant
Versus
Official Liquidator, High Court of Karnataka – Respondent


Advocates Appeared:
For the Appellants : B.K. Sampath Kumar, G.S. Prasanna Kumar
For the Respondent: Krutika Raghavan

ORDER :

1. In CA No.326 of 2021, the applicants claim to be the children of late P.M. Channabasavanna and Smt. H.N. Saroja. It is stated that, father of the applicants acquired the property bearing No.2997, Temple Road, Vanivilasa Mohalla, Mysore as per registered Sale Deed dated 05.06.1982 (Annexure-A). It is further stated that, the applicants are co-owners of the aforementioned property. It is further stated that the, parents of the applicants had entered into Joint Development Agreement dated 30.06.1997 (Annexure-B) with M/s. Kirlosker Investments and Finance Ltd., (hereinafter referred to as Company in liquidation). The Company in liquidation failed to perform its obligation as per the terms and conditions stipulated in the Joint Development Agreement, and in this regard, father of the applicants addressed letter dated 28.02.1988 about the non-performance of the obligation by the Company in liquidation and also made a reference for revocation of Joint Development Agreement. In reply to the same, the Company in liquidation by reply dated 18.03.1998 expressed their inability to complete the project within stipulated period (Annexures-C and D respectively). Thereafter, legal notic

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