ORDER:- This is an application by the Official Liquidator for a direction to Inder Raj Swarup to hand over possession of certain assets of the Moradabad Flour Milling and Refrigeration Co. Ltd. (in liquidation).

2. According to the Official Liquidator the assets mentioned in the application belong to the Company in liquidation and are being illegally withheld by Sri Inder Raj Swarup.

3. The Company aforesaid went in creditors voluntary liquidation on 29th September, 1962, On 20th December, 1971, this Court passed an order placing the Company under compulsory winding. Thereupon the Official Liquidator made the application mentioned above.

4. Sri Inder Raj Swarup opposed the prayer. He set up a partnership agreement between him and the Company (in liquidation) and claimed that in virtue of the aforesaid agreement he was the owner in Possession of the assets and was entitled to retain possession thereof till his dues were paid off. The learned Company Judge held that the agreement did not transfer the title of the assets in question from the Company to the partnership firm. Sri Inder Raj Swarup was hence not entitled to retain possession on the ground that he was the owner of the assets.

Click Here to Read the rest of this document