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2013 (4) TMI 254 - HC - Companies LawNegligence of official liquidator - The fact of the matter is that the land that was advertised, auctioned and purchased by the applicant - Society under orders of this Court is not available on the spot, to the extent of the measurement advertised as a substantial part of it had been allotted to IPCL (now Reliance Industries Limited) as far back as in 1988. The applicant has been given to believe that 13759 square mtrs of land was available whereas it now transpires from the Report of the Official Liquidator, and affidavits of the GIDC and the Collector, Vadodara, that 8000 square mtrs of the said land is in possession of Reliance Industries Limited, and was never a part of the parcel of land belonging to the Company in liquidation. No attempt appears to have been made by the office of the Official Liquidator to ascertain the factual position, make proper inspection and inquiry or measurements of the land in question. The explanation given by the Official Liquidator is that he was under a bona fide impression that measurements, as mentioned in the Valuation Report. First prayer made by the applicant regarding setting aside of the sale is concerned. - Held that - In view of the facts and circumstances as discussed hereinabove, and as the applicant cannot be made to suffer for lapses committed by the office of the Official Liquidator, the interest of justice would demand that the sale be set aside, and the amount that has been deposited by the applicant which has been invested in a Fixed Deposit, be refunded, with interest. Consequently, the sale, confirmed, is set aside. The Registry is directed to refund the amount deposited by the applicant, that has been invested in a Fixed Deposit, along with interest, upon the applicant making an application for this purpose. The second prayer made by the applicant is for initiation of an inquiry into the manner in which the office of the Official Liquidator has conducted itself by auctioning of the property in question without ascertaining the correct status of the land in question. - Held that - A copy of this order be handed over, learned Assistant Solicitor General of India, for communication to the Secretary, Ministry of Corporate Affairs, Government of India, for information and further necessary action, as considered appropriate.
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