The main legal point established in the judgment is the discrepancy in the area of the land sold to the applicant compared to the area mentioned in the terms and conditions of the sale, and the court's direction to the Official Liquidator to recover the amount of consideration based on the actual area received by the applicant and to undergo necessary formalities for the execution of the Sale Deed.

( 1 ) THE applicant - M/s. Aakar Developers has taken out Judges Summons on number reliefs as prayed for in it saying that the order dated 02nd September, 2003 passed by the Company Court (Coram: C. K. Buch, J) in O. L. Report No. 58 of 2003 may be reviewed and other appropriate reliefs as prayed for in the Judges Summons may be granted. The Court would like to reproduce the reliefs as prayed for in the Judges Summons taken out by the applicant, which are as under: (a) To review the order dated 2. 9. 2003 passed by the Hon ble Company Court (Coram: C. K. Buch, J) in OLR 58 of 2003 and to permit extension of time to the Applicant for the payment of the last two instalments, being the amount remaining outstanding after deducting the reliefs asked for in prayers (e) and (f) from the remaining sale consideration of Rs. 1,25,50,000/ -. (b) To quash and set aside notice issued by the Official Liquidator, dated 23. 3. 2005. (c) To direct the Official Liquidator to clarify and give the exact area, length, depth, nature, title and tenure of the Land purchased by the Applicant. (d) To direct the Official Liquidator to get the requisite permissions from the concerned authorities for the zone conversion of the land sought by the Applicant, from "non obnoxious non hazardous zone" to "residential zone", and also to get the said area converted from "others" to "gamtal/nucleous" under Section 126 of the Bombay Land Revenue Code. (e) To direct the Official Liquidator to refund to the applicant, or deduct from the remaining sale consideration, the proportionate amount of money, equivalent to the difference in the area mentioned in Clause 4 of the Terms and Conditions given by the O. L. Being 4,84,634 sq. ft. (i. e. 45023. 973 sq. mt.) and that which it actually got possession of, being 4,42,413. 80 sq. ft. (i. e. 41101. 5888 sq. mt. ). (f) To direct the Official Liquidator to refund to the Applicant, or deduct from the remaining sale consideration, the loss caused to the Applicant due to the change in area location, an amount equal to the difference in the value of land, as per the land position provided in the map supplied with the OLR 58/2003 and the actual land position made available to the Applicant after excluding the extra land taken by the ULC, on the basis of Theory of Valuation.

( 2 ) THE submissions of the applicant-Company is that they have purchased a parcel of land described in the advertisement published in proceedings of O. L. Report No. 58 of 2003 i. e. Company s immovable properties such as land and building structure situated at Survey No. 116 to 118, 131, 935, 958, 962 to 964 admeasuring approximately 4,84,634 sq. ft. as a bidder of Yamuna Mills Ltd. (company in liquidation) and the same is given along with the terms and conditions attached with the tender advertisement. Along with the said terms and conditions, the Official Liquidator also had attached a map of the land to be sold under O. L. Report. A copy of the tender condition Annexure-A and a copy of the map Annexure-B are considered by him.

( 3 ) THE applicant was declared the highest bidder and vide order dated 02nd September, 2003, the Company Court confirmed the sale in favour of the applicant on the terms and conditions decided by the sale deed. These conditions are at Annexure-C. After considering the say of Mr. D. H. Vasavada, learned Counsel appearing for the opponent-Majoor Mahajan Sangh, and his accent qua the price offered by the applicant, the applicant was declared successful bidder against consideration of Rs. 4. 51 crores. The sale was confirmed on conditions of sale mentioned in the Schedule attached with the order of the Court. The say of the applicant is as per Clause 4 of the terms and conditions, the area of the land and building was 4,84,634 sq. ft. approximately, if mentioned in sq. mtr. it would come to about 45023. 973 sq. mtr. The applicant on confirmation of sale when tried to get the land measured and ascertained about the land