C O M M O N O R D E R

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 instrument also refers to the execution of the general power of attorney in favour of Mr.Naresh Kumar Kothari and a sale agreement in favour of his nominee. Subsequently, a registered agreement of sale is entered into between the insolvents represented by their power of attorney Mr.Naresh Kumar Kothari and one T.Lalith Kumar S/o. Tejraj Jain on 09.07.2011. Under the said agreement, the purchaser viz., T.Lalith Kumar agrees to purchase the property for a consideration of Rs.25,00,000/- and pays an advance of Rs.12,50,000/-. The said agreement is registered as Document No.9809/2011 on 09.08.2011. Soon thereafter, on 25.08.2011, the debtors filed the instant insolvency petition in I.P.No.64 of 2011. Being the debtors petition, an order of adjudication was passed by this Court on 13.10.2011. On 26.08.2011, the agreement dated 09.07.2011 is cancelled by way of a registered instrument of cancellation.

4. Thereafter, the power agent viz., Mr.Naresh Kumar Kothari in his capacity as agent of the insolvents sells the subject property to the 3rd respondent in A.No.230 of 2017 viz., Mr.Bijay Singh Chouraria S/o. Nagaraj Chouraria. The total sale consideration reflected in the said sale deed is Rs.8,00,000/-. On 25.01.2012, the 3rd respondent viz., the purchaser sells the property to the applicant in A.No.229 of 2017 viz., Mr.Sunil Kumar Adikesaven. The said sale is for a total