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OJMCA/43/2010 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
MISC.
CIVIL APPLICATION No. 43 of 2010
In
OFFICIAL
LIQUDATOR REPORT No. 60 of 2008
In
COMPANY PETITION No. 3 of 1997
In
OFFICIAL LIQUDATOR REPORT No. 60 of 2008
=========================================================
PRAGNABEN
SUDHIRBHAI SANGHVI - Applicant(s)
Versus
O.L.
OF MAHA CHEMICAL LTD. - Respondent(s)
=========================================================
Appearance
:
PARTY-IN-PERSON
for
Applicant(s) : 1,
MR YADAV FOR OFFICIAL LIQUIDATOR for
Respondent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
Date
: 30/04/2010
ORAL
ORDER
1.
Present application has been preferred by the auction purchaser for
modification of the earlier order dated 8.10.2009 passed by this
Court and also for directing the Official Liquidator to hand over the
possession of the flat.
2. On
behalf of the petitioner, the husband of the petitioner Sudhirbhai
Sanghvi has remained present and he has been heard. Mr.Yadav for
Official Liquidator is also heard.
3.
It appears that it is admitted position as confirmed by Mr.Yadav
that the full price has been deposited by the applicant. Further the
interest for the delayed period at the rate of 12% is also
deposited. But, as per Mr.Yadav, the applicant has yet to deposit the
amount of Rs.4,385/- being interest for the delayed period on the
amount which was required to be paid 25% amount of the offered
amount, whereas, on behalf of party-in-person, it has stated that
the amount has already been paid. Be that as it may, the amount of
interest at the rate of 12% per annum for the delayed period may be
for the period during which he is required to deposit 25% of the
amount or the period during which he is required to pay 75% of the
amount, will be required to be paid by the offerer, and therefore, if
any amount is falling short, the same will have to be deposited by
the applicant. Further there is already delay, but in view of the
fact that full consideration has already been paid and the interest
is also paid at the rate of 12% per annum for the delayed period
subject to the adjustment of the calculation as referred to
hereinabove, if some penalty is imposed, the delay can be regularised
and the same is not going to prejudice to the corpus of the company
in any manner since the amount is paid with interest and the amount
of penalty would also additionally be available.
4.
Hence it is directed that upon the payment of the interest at the
rate of 12% per annum on the amount which was required to be paid
and not paid, and further the payment of penalty of Rs.5,000/- both
on or before 14th May 2010, the consideration shall stand
received as per the offer. Consequently, the Official Liquidator
will be required to take steps whatever as per the terms and
conditions of the offeror.
Ordered
accordingly.
Application
disposed of.
(JAYANT
PATEL, J.)
syed/
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