GODHA REALTORS (INDIA) PRIVATE LIMITED Vs. GANGAVATHI SUGAR MILLS LIMITED (IN LIQUIDATION) AND ORS.

JUDGEMENT

(1.) The present application is filed in the following circumstances:

(2.) In terms of the order, confirming the sale in favour of the applicant, possession of the land, building, plant and machinery had been delivered on 16-4-2012 under a possession certificate. The Official Liquidator has also delivered the original documents which have been received from IFCI Limited, a secured creditor, to enable the applicant to get the absolute Deed of Conveyance from the Karnataka Industrial Area Development Board (KIADB). As the confirmation of auction was subject to payment of the dues, to the KIADB, the applicant had paid the outstanding dues of Rs. 10,23,871/- to the KIADB on 30-5-2012.

(3.) The Official Liquidator had addressed a communication to the KIADB indicating that the applicant-purchaser had paid the entire sale consideration and the possession of the assets have been delivered to the applicant as also, the original documents are with the Official Liquidator and that he has no objection if the KIADB should transfer and register the land in the name of the applicant.