ORDER :

1. The applicants, who claim to be the owners of the land situated at Survey No.90/1 admeasuring 2 Acres situated at Gachibowli village, Serilingampally Mandal, Ranga Reddy District - Hyderabad, Telangana State (“the subject land”) have preferred this application seeking, inter alia, a direction to the Official Liquidator, the respondent, to surrender and handover peaceful and vacant possession of the subject land to the applicants and also to remove all the boards and fixtures erected over and articles brought at, the subject land by the representatives of the Official Liquidator.

2. Background facts can be stated, in brief, as under:

(a) In Company Petition No.82 of 1988 and connected petitions, by an order dated 21st June, 2007, the Official Liquidator, High Court, came to be appointed as the Liquidator of M/s. Industrial and Agricultural Engineering Company (India) Limited (“I.A.E.C. (India) Ltd.”) with usual powers under the Companies Act, 1956.

(b) The Official Liquidator, according to the applicants, on the strength of false and incorrect information received from M/s. Sripad Deshpande & Co., that the subject land is the property of I.A.E.C. (India) Ltd., the Company in