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2015 (7) TMI 416 - HC - Companies LawLiquidation of company - bonafide purchaser - Official Liquidator has filed a report seeking direction for taking physical possession of the premises - Held that:- the applicant had purchased the premises from the company under liquidation by paying an amount of ₹ 12,51,000/-. The report of the valuer shows that the premises have been renovated. The Co-operative Society has transferred the share certificate in the name of the applicant. The Sale Deed is registered. It is informed that the Chairman who had executed the Sale Deed in favour of the applicant is no more. The valuation is carried out. The applicant has shown her willingness to deposit the difference of the amount. In view thereof, I am of the opinion that a case is made out in the peculiar facts and circumstances of this case for validating the sale in favour of the applicant by accepting the undertaking of the applicant that the balance amount will be paid. - Thus, the applicant will deposit an amount of ₹ 15,35,000/- (Rs.27,86,000/- minus ₹ 12,51,000/-) within a period of four weeks from today.
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