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B.I.F.R. v. M/S Electra (India) Ltd. - MISC. COMPANY APPLICATION No. 9 of 2000  RD-AH 5485 (8 March 2006)
MISC COMPANY APPLICATION NO. 9 OF 2000
In the matter of: M/s Electra (India) Ltd. (In Liquidation)
Hon'ble Sunil Ambwani, J.
Present Shri Anjani Kumar Misra, learned counsel for the Official Liquidator; Shri S.K. Saxena, Official Liquidator; Shri J. Nagar for LIC; Shri Ashutosh Vaish for PICUP; Shri S.K. Ahuja, the valuer under notice, and Shri Pushkar Malhotra for M/s Agarwal Associates, the highest bidder, whose bid has been accepted.
The application of M/s Agarwal Associates for proportionate deduction of price on account of shortage of land on the spot is under consideration.
Shri S.K. Ahuja has requested for and is granted four weeks time to file his reply.
In order to decide the pending applications it is necessary to find out correct area of the land owed by the Company (In Liq.) in part -A & B (separately) of the details submitted by the State Bank of India and Punjab National Bank to the Official Liquidator, described as below;
"(A) Bhumidhari Land situated in Village Dungrawali, Pargana, Tehsil and District Meerut - comprising of following 12 (twelve) Khasra Numbers - with a total area of 8 (eight) Bighas and 6 (six) Biswas:-
KHASRA NUMBER AREA
BIGH BISWA BISWANSI
280 M 0 2 0
275 0 4 0
280 0 3 10
279 C 0 2 0
77 0 17 0
74 M 0 13 0
74 M 0 2 0
72/1 1 14 0
276 2 8 0
72/3 1 5 0
73 M 0 7 15
73 M 0 7 15
12 8 6 0
(B) Bhumidhari Land situated in Village Kunda, Pargana, Tehsil and District Meerut- comprising of following 3 Khasra Numbers:-
Khasra Number 160 (one hundred sixty) - area 2 (two) bighas and 12 (twelve) Biswas.
Khasra Number 130/1/1 (one hundred thirty/one/one) - area 0.316 (zero point three one six) hectares
Khasra Number 165 (one hundred sixty five) - area 1.370 (one point three seven zero) hectares."
The District Magistrate, Meerut shall depute an officer not below the rank of Sub Divisional Magistrate with requisite staff to measure the land. It is made clear that if any part of the land has been transferred assigned or its possession have been given by the Company (In Liq.) or its promoters to any person, the same shall not be excluded.
The State Bank of India; Punjab National Bank; Life Insurance Corporation and PICUP, are directed to cooperate in the inquiry. They shall submit copies of the documents in their records taken as security and furnish copies of the same to the Official Liquidator as well as the Officer deputed by the District Magistrate for carrying out the measurements. The report shall be submitted within one month. The matter shall come up on 5.4.2006 in chambers.
In the meantime the Official Liquidator shall not refund any amount to M/s Agarwal Associates and the proceeding for executing Conveyance Deed shall be kept in abeyance. The possession may, however, be given as full amount has been paid. Copy of the order shall be given to the parties within 48 hours.
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