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IN THE HIGH COURT OF JUDICATURE AT MADRAS
R.SUBRAMANIAN, J.
Sunil Kumar Adikesavan - Applicant
Vs.
Official Assignee, High Court of Judicature, Chennai – 600 104. - Respondent
Appln. Nos.229 to 233 of 2017 in I.P.No.64 of 2011 Appln.No.229 of 2017
Decided On : 29-07-2021
Presidency Towns Insolvency Act - Section 55 , 57 - Limitation Act. - Article 137 - Evidence Act - Section 92 - Application For - Transfer of insolvents' property - Application has been filed seeking to declare transfer of insolvents' property described in schedule to Judges Summons in favour of 3rd respondent herein and subsequent transfer effected by 3rd respondent in favour of 4th respondent herein as null void and not binding upon official assignee - Whether same would fall within scope of Section 55 of Presidency Towns Insolvency Act - Whether transfer by power agent of insolvents to Bijay Singh Chouraria is a bonafide transfer for valuable consideration - Held, learned Senior Counsel would fault Official Assignee for not taking immediate steps to inform Sub-Registrar about adjudication order - As already pointed out insolvents did not filed statement of affairs as enjoined upon them under provisions of Act - Office of Official Assignee had to make its own enquires and get details regarding property – Court do not think it will be correct to blame Official Assignee for not informing Sub-Registrar of order of adjudication- In light of above conclusion reached that sale deed is declared void as against Official Assignee and subsequent sale deed by 3 rd respondent in favour of 4th respondent in A.Nos.230 to 233 of 2017 will also be rendered void - A.Nos.230 to 233 of 2017 will stand allowed.
ORDER :
Prayer in Appln.No.230 of 2017:- This Application has been filed seeking to declare the transfer of the insolvents' property described in the schedule to the Judges Summons in favour of the 3rd respondent herein and the subsequent transfer effected by the 3rd respondent in favour of the 4th respondent herein as null, void and not binding upon the official assignee.
Prayer in Appln.No.231 of 2017:- This Application has been filed seeking to issue warrant permitting the official assignee to seize the property from the custody or possession of the respondents 3 and 4 or any other person, their men, agents or servants acting under them with the assistance of Police.
Prayer in Appln.No.232 of 2017:- This Application has been filed seeking to direct the respondents 3 and 4, their men, agent or servants or any other person acting on their behalf to deliver the vacant possession of the said property described in the Schedule to the Judges Summons with all documents of title in their possession to the official assignee.
Prayer in Appln.No.233 of 2017:- This Application has been filed seeking to permit the official assignee to sell the property described in the Schedule in the Judges Summons in public auction and sale proceeds rateably divided amongst the General Body of Creditors.
The prayers in the above applications are as follows:- Appln.No.229 of 2017:- This Application has been filed seeking to direct the first respondent to hand over the property being Plot with Building up to foundation and compound wall bearing No.23, “Raja's Garden Phase II” measuring 1980 Sqft comprised in Survey No.123/1F situate at Noombal Village, Ambattur Taluk, Thiruvallur District within the Registration District of South Chennai and Sub Registration District of Kundrathur.
Appln.No.230 of 2017:- This Application has been filed seeking to declare the transfer of the insolvents' property described in the schedule to the Judges Summons in favour of the 3rd respondent herein and the subsequent transfer effected by the 3rd respondent in favour of the 4th respondent herein as null, void and not binding upon the official assignee.
Appln.No.231 of 2017:- This Application has been filed seeking to issue warrant permitting the official assignee to seize the property from the custody or possession of the respondents 3 and 4 or any other person, their men, agents or servants acting under them with the assistance of Police.
Appln.No.232 of 2017:- This Application has been filed seeking to direct the respondents 3 and 4, their men, agent or servants or any other person acting on their behalf to deliver the vacant possession of the said property described in the Schedule to the Judges Summons with all documents of title in their possession to the official assignee.
Appln.No.233 of 2017:- This Application has been filed seeking to permit the official assignee to sell the property described in the Schedule in the Judges Summons in public auction and sale proceeds rateably divided amongst the General Body of Creditors.
2. While Appln.No.229 of 2017 is been filed by the transferee for possession of the property of the insolvents, the other applications have been filed by the Official Assignee seeking the prayers stated supra.
The brief facts leading to the filing of these applications are as follows:-
3. The debtors who are partners of a firm viz., ELTECT Corporation had purchased the subject property under Ex.A1 sale deed dated 27.08.2010 for a consideration of Rs.6,96,000/-. They had executed a general power of attorney on 29.11.2010 in favour of one Naresh Kumar Kothari. The said document specifically reads that no consideration has been paid for execution of the same. The document styled as a sale receipt dated 29.11.2010 has been produced as evidence of receipt of a sum of Rs.25,00,000/- by the insolvents from the power agent Mr.Naresh Kumar Kothari. The said instru
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