A mere contract in the form of loan agreement would not amount to an actual transfer of any interest in the immovable property.

ORDER :

K.M. MEHTA, J.

1. Kiran Gajjar, Proprietor of M/s. Kingsway Graphics, Ahmedabad, has taken out Judge's Summons with a prayer that this Court may declare that the applicant herein is the owner of premises F-6A and has exclusive right, title and interest in the premises F-6A, World Business House, situated near Parimal Garden Charrasta, Ellisbridge, Ahmedabad (hereinafter referred to as the Suit Property) and that the said premises is not the property charged towards loan agreement between, respondent No. 2 herein and erstwhile Piramal Financial Services Ltd. (now under liquidation) (hereinafter referred to as Piramal). The applicant further prays that this Court may direct the Official Liquidator not to disturb the possession of premises F/6A till the hearing of Official Liquidator Report No. 53 of 2002.

2. In support of the aforesaid Judge's Summons, an affidavit dated 1.3.2004 of Kiran N. Gajjar, Proprietor of Kingsway Graphics, the applicant, has been filed.

2.1 In the said affidavit, it was stated that Piramal Financial Services Ltd., was taken into liquidation and was ordered to be wound up vide order of this Court dated 10.5.2000 and official liquidator was appointed to take charge of the assets of the company (in liquidation). Pursuant to the order of this Court dated 20.7.2001 directing the official liquidator to take charge of the properties of the company (in liquidation) the representative of the Official Liquidator was deputed on 16.8.2001 to the premises F-6A at World Business House, Ahmedabad, to take possession of it. It is the case of the applicant Kiran Gajjar that the premises F 6A being owned by him it was informed to the official liquidator that the premises was purchased by him from Prarthana Construction Pvt. Ltd. (hereinafter referred to as Prarthana) In support of the same, the applicant had submitted a copy of the booking letter, possession letter and a copy of share certificate in the name of Ceazer's Plaza Apartment Owner Association and other papers. The applicant further stated that the Official Liquidator was also informed of the case in the City Civil Court being Civil Suit No. 5980 of 2000 filed on 13.12.2000 for not handing over possession of premises F-6A to any other party by Prarthana and stay has been granted to this effect. The applicant also filed further affidavit on 20.10.2004.

2.2 In view of the aforesaid facts and circumstances of the case, the Official Liquidator has filed Report 53 of 2002 on 6.9.2002 where the Official Liquidator has stated the facts and prayed (a) whether this Court may be pleased to permit the Official Liquidator to take possession of Shop No. F-6A, Word Business House, S.N. Road, Parimal Garden, Ahmedabad i.e. the property in question (b) during the pendency of the application respondent No. 8 Prarthana and respondent No. 9 Kiran Gajjar be restrained from creating further charges on the above assets or sell or dispose of or create a third party charge/right. The said report was filed on 6.9.2002.

2.3 Initially, this Court issued notice on 2.7.2004. The Official Liquidator filed his reply on 13.9.2004. However, after hearing the parties this Court vide order dated 10.10.2003 gave directions that the Official Liquidator is entitled to take possession of the suit property. It was also stated that the said possession is subject to the fact that respondent No. 9 Shri Kiran Gajjar will be permitted to occupy only 300 sq. ft. of the said suit property subject to establishing his right, title and interest of the said premises and subject to adjudication of the right, title and interest in the said property. Pursuant to the said direction given by this Court, the Official Liquidator took possession of the suit property and allowed the applicant to occupy only 300 sq. ft. of the suit property i.e. F-6A. Pursuant to the direction given by this Court vide order dated 1