1. By the above report, the Official Liquidator has sought directions from this Court as follows:

“(a) In view of paras 7 and 8 of this Report, whether this Hon’ble Court would be pleased to declare the sale of the property situated at H-16, MIDC Waluj Industrial Area, Waluj, Aurangabad to Smt. Sunita V. Warke as null and void;

(b) If prayer (a) is in the affirmative, whether this Hon’ble Court would be pleased to permit the Official Liquidator to take possession of the said property situated at H-16, MIDC Waluj Industrial Area, Waluj, Aurangabad”.

The facts in the matter are briefly set out hereunder:

2. On 7th April 1997, Company Petition No. 327 of 1997 seeking winding up of the Company -Hindustan Transmission Products Limited (“HTPL”) was filed /presented. Smt. Sunita V. Warke (“the occupant”) claims to have paid an aggregate sum of Rs. 30 lakhs to the Company between 14th May, 2007 and 26th September 2007 towards the purchase of the Company’s leasehold rights in respect of Plot No. H-16, MIDC Waluj Industrial Area, Waluj, Aurangabad (“the said property”). It is an admitted position that no document, by way of an agreement for sale or a transfer deed, was executed betw