ORDER
Anant S. Dave, J.
1. The applicant, Textile Labour Association, has taken out the Judges Summons with a prayer to direct the respondent No. 1 i.e. Official Liquidator of Ambica Mills Ltd. to take the possession of the property of the company (in liquidation) held by Respondent No. 10 and to dispose of the same by convening the meeting of the sale committee and interalia it is also prayed that respondent No. 10 may be restrained from alienating or disposing of the property in any manner.
2. In support of Judges summons, it is stated that the applicant union is registered under Trade Union Act, 1996 and also seeks indulgence of this Court in view of the fact that certain rights emanate from Sections 529 and 529(A) of the Companies Act, 1956, require to be protected qua the applicant.
3. It is stated that respondent No. 10 has not paid full consideration for purchasing the cylinder division and amount of Rs. 20 lacs is outstanding. It is further stated that the applicant has come to know about this fact from certain paras of annual report of 1992-93 and 1993-94 and therefore this application is preferred.
4. The Official Liquidator has filed report by which it is stated that since necessary permission was not given under the Urban Land (Ceiling and Regulation) Act, 1976 and only 21004 sq mtr of land and not the entire land admeasuring 42,760 sq mtr was granted exemption by the Government of Gujarat by an order dated 24.06.1986. Thus, the agreement which was entered into 09.01.1979 between the Mill company and the original respondent No. 10 remained as it is and same could not be executed when the winding up order came to be passed on 17.01.1997.
5. It is also reflected from the record of the case that Civil Suit No. 3413 of 1992 was also filed by M/s. Ambica Mills Ltd. company (in liquidation) before the order of winding up came to be passed against respondent No. 10 and the said matter is still pending.
6. In reply to the Judges Summons, respondent No. 10 has also filed affidavit in reply and contended that by an order 26.06.1997 passed in Company Application No. 101 of 1997, it is directed that the Official Liquidator shall not take possession of the property in question, till the suit proceedings in the City Civil Court, Ahmedabad is finally decided. The respondent no. 10 has submitted that out of total sale consideration, Rs. 26,47,000/- is already paid to M/s. Ambica Mills Ltd. and only Rs. 20 lacs remain to be paid for which respondent No. 10 is ready and willing to pay the above amount. Since the sale committee is not executed in view of pending proceedings before the ULC and total examination of question was not granted the prayer made by the applicant to direct the Official Liquidator to take over the possession from respondent No. 10 cannot be granted.
7. Alongwith proceedings of this application, the Company Application No. 155 of 2006 filed in Company Application No. 49 of 2005 is also tagged since the applicant i.e. Standard Chartered Bank has filed this application to permit the applicant to substitute its name in place of I.C.I.C.I. Bank Ltd. in Company Application No. 49 of 2005 in view of consignment of debts by I.C.I.C.I. Bank Ltd. to Standard Chartered Bank by way of assignment agreement dated 18.02.2006. In the above application nos. 155 of 2006, Company Application No. 205 of 2006 was filed with a view to permit the applicant, Standard Chartered Bank Ltd. to amend the Company Application No. 155 of 2006 and to join Secured Creditors as party respondents in Company Application No. 155 of 2006. The learned Single Judge by an order dated 24.04.2006 allowed the above application and accordingly amendment is carried out and secured creditors respondent Nos. 3 to 10 are joined as party respondent. It is to be noted that the above company application No. 155 of 2006 is pending, since notice came to be issued on 20th June, 2006 qua newly added parties as per permission granted vide order dated 24.04.2006 passed in Company Application No. 205 of 2006.
8. The learned Counsel have advanced various arguments and taken this Court to the record of Company Application No. 49 of 2005. At the outset, Shri Sandeep Singhi, for M/s. Singhi & Co., learned advocate appearing for Standard Chartered Bank Ltd., applicant of Company Application No. 155 of 2006 submitted that the above application i.e. Company Application No. 155 of 2006 is yet pending, in view of notice issued by this Court to newly added secured creditors and the above company application is filed in Company Application No. 49 of 2005. Since the above issue of substitution of applicant is still pending it is submitted that Company Application No. 49 of 2006 may not be heard finally.
9. Shri S.N. Soparkar, learned senior advocate appearing for respondent No. 10, however, submitted that the issue involved for adjudication in Company Application No. 49 of 2005 is different and the application of substitution has no bearing upon the subject matter of application.
10. Learned Counsel have advanced arguments on merits of the case to justify their stand.
11. However, having examined the Company Application No. 49 of 2005 on the basis of record available, I find force in arguments advanced by Shri Sandeep Singhi for M/s. Singhi & CO. appearing for Standard Chartered Bank Ltd. applicant of Company Application No. 155 of 2006 for substitution and the above issue is yet to be decided qua the applicant, I do not find it just and proper to decide the Company Application No. 49 of 2006 on merits. Not only that, but, numbers of applications for substitution are pending where certain common questions of law have been raised by the Official Liquidator and even by the Textile Labour Association, it will not be proper to decide this application finally.
12. In view of the above, the Office is directed to place the Company Application No. 49 of 2005 in Company Petition No. 121 of 1995 for hearing before the appropriate court as per the prevailing roster along with Company Application No. 155 of 2006.