- (1.) Heard learned counsel for the parties.
(2.) The first respondent as an Administrator of a company under winding-up proceedings before the Company Judge had filed Company application No. 260/02 in Company Petition No. 130 of 1990 seeking a direction to the petitioner herein to hand-over keys of certain properties which according to the administrator, belonged to the company under winding up. The petitioner herein in the said application contended that it is the bona fide purchaser for valuable consideration of the property in question hence application of the administrator should not be allowed.
(3.) Learned Company Judge rejecting the contentions of the petitioner herein directed the official liquidator to take custody of the property in question and hand over the keys of the said property to the administrator as also directed the liquidator to arrange to lease out the property by calling tenders and to keep the amounts so realised in a separate account.;