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2017 (7) TMI 181 - HC - Companies LawDirection to Official Liquidator to hand over possession - winding up - Held that:- In view of the status-quo order passed by this Court against the applicant in the said notice of motion, which order is in force, the applicant even could not have applied for seeking possession of the leasehold land in question in this proceeding. Be that as it may, the applicant has not made out any case for recovery of possession of the leasehold land from the Official Liquidator, as prayed or otherwise. In my view transfer of the leasehold rights of the company in liquidation for the remaining period which is for substantial period for clearing the debts of the creditors of the company in liquidation is for beneficial winding up of the company in liquidation and is permissible. As the prayer of the applicant for recovery of the arrears of rent from the Official Liquidator is concerned, the Official Liquidator through his counsel has made a statement before this Court that the arrears of rent would be cleared by the office of the Official Liquidator within such time as may be granted by this Court. In my view, this grievance of the applicant for recovery of arrears of rent from the Official Liquidator is justified and deserves acceptance. As the direction sought by the Official Liquidator for reduction of the reserve price fixed by this Court in respect of the leasehold property in question is concerned, in my view, the interest of justice would be met with if such prayer is considered after a fresh valuation report is obtained by the Official Liquidator in respect of the said leasehold rights in view of passage of time. The Official Liquidator can apply for the said relief after such valuation report is obtained by his office in respect of the leasehold land in question. Company Application seeking an order and direction against the Official Liquidator to hand over quiet, vacant and peaceful possession of the open land admeasuring 4743.21 sq. mtrs, bearing survey no.194/1, village Majiwade, Thane (West) is rejected. The Official Liquidator is directed to pay the arrears of rent from the date of winding up of the respondent company till 30th June, 2017 within eight weeks from today and shall continue to pay the agreed rent every month to the applicant on or before the 15th day of each month. The Official Liquidator is directed to obtain a fresh valuation report in respect of the leasehold rights in the land in question within three months from today.
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