M/s. Rajasthan Tools Ltd v. M/s. Pooja Granites & Marbles Ltd

Order

- 16.12.2008 HON'BLE MR. PRAKASH TATIA, J. Mr.Sajjan Singh, for the applicant. Mr. Vikas Balia, for the Official Liquidator. <><><> Heard learned counsel for the parties. In the company petition No.11/1998, this Court ordered to wind up the company M/s. Pooja Granites & Marbles Ltd. vide order dated 1.2.2006. The official liquidator was directed to take charge of all the properties and assets and the books and papers of the said respondent-company in terms of Rule 114 of the Companies SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India (Court) Rules, 1959. 2 The Misc. Application No.74/2008 has been filed by the National Highway Authority of India under Section 456 of the Companies Act, 1956. By this application, it has been brought to the notice of this Court that National Highway Authority issued notification under Section 3(a), 3A and 3D of the National Highway Act, 1956 for acquiring the land belonging to M/s. Pooja Granites & Marbles Ltd. and, thereafter, acquired part of the land of said industrial concerned of Khasra no.368 and as per the National Highway Authority the land measuring 0.0400 hectare of M/s. Pooja Granites & Marbles Ltd. has been vested to Central Government free from all encumbrances on publication of the declaration under Section 3D of the National Highway Act, which was published on 14th July,

2006. The National Highway Authority received a communication from the official liquidator, attached to

Rajasthan High Court on 1.2.2006 and came to know that the order has already been passed by this Court to wind up SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 3 the company in question in SB Company Petition No.11/1998 vide order dated 1.2.2006 and all assets and effects of the company in liquidation is in custody of the High Court. As per National Highway Authority-applicant, the total compensation determined as Rs.5,71,542.20/- as per the award dated 28th March, 2008. The applicant- National Highway Authority deposited the same amount before the competent authority on 26th March, 2008, who in response to the letter of the official liquidator vide its letter dated 26th March, 2008 directed the applicant-National Highway Authority to get appropriate direction from the High Court for payment of the award money. With these facts, the National Highway Authority sought direction for the award amount and further sought permission to allow the National Highway Authority to construct the road on the land, which has been acquired by the National Highway Authority of M/s. Pooja Granites & Marbles Ltd. One application i.e., S.B. Company Misc. Application SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 4 IA No.16550/2008 has been submitted by the official liquidator. By this application, the official liquidator informed that he came to know from the record that when official liquidator alongwith is officers visited at the company site, he found that the properties of said company is in liquidation have already been attached by the court of Addl. District Judge, Abu Road, Sirohi on 19.2.2002 in case no.1/2002 filed by M/s. Ispat Finance Ltd against M/s. Pooja Granites & Marbles Ltd. and therefore, the official liquidator could not take possession of the aforesaid properties. The official liquidator pointed out that in this regard, information has been submitted before this court vide S.B. Company Application No.4/2004. The official liquidator also pointed out that this Court has also ordered that winding up order has been made on

26.8.2003, therefore, M/s. Ispat Finance Ltd. cannot be permitted to intervene in the winding up proceedings as the winding up proceedings have commenced by order dated

26.8.2003 and the application filed by M/s. Ispat Finance SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 5 Ltd for intervention in the present winding up proceedings is rejected and official liquidator visited the factory premises of the company situated at Ambaji Industrial Area, Abu Road, Sirohi on 20.4.2006 and has took over the possession of the assets and posted four security guards through M/s. Jay security Services, Jaipur. After narrating some more facts it has been prayed by the official liquidator that possession of the portion of the factory premises which has been now occupied by the National Highway Authority may be restored to the official liquidator and in alternative, National Highway Authority may be directed to compensate the company in liquidation for acquired structure. I considered the submissions of learned counsel for the parties. The National Highway Authority in their application no.74/22008 submitted that they acquired the land in question by following the procedure as provided under the National Highways Act, 1956 and determined the compensation and deposited the amount with the SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 6 competent authority as per the procedure provided under the Act of 1956. Therefore, the amount which has been deposited by the National Highway Authority before the competent authority is required to be paid to the official liquidator, who is custodian of all assets of the company and entitled to receive all the benefits and the compensation for the properties of the company. Learned counsel appearing for the official liquidator submitted that payment shall be subject to objection as in case official liquidator who has not been given any opportunity of hearing before acquisition of land in question and before taking possession of the part of the land then they may take appropriate step either to challenge the acquisition proceedings or even they may seek enhancement of the compensation for the land and the properties of the company in question. In view of the above, it is made clear that the amount paid and received by the official liquidator shall be treated to be accepted subjected to objection and raising of rights SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 7 which the official liquidator may have against the acquisition proceedings and determination of the compensation. Hence, the company application no.74/2008 is allowed in part and it is ordered that the amount awarded to M/s. Pooja Granites & Marbles Ltd. may be paid directly to the official liquidator or may be deposited with the competent authority and the same amount has already if deposited then the said authority may disburse the amount to the official liquidator. So far rest of the relief about the construction of the road by the National Highway Authority is concerned, for that no separate order is needed because of the reason when the land has been acquired by the applicant National Highway Authority then that property does not belonging to the company. (subject to any challenge by the official liquidator). The application i.e., S.B. Company Miss. Application IA No.16550/2008 is also allowed in part and the official liquidator may withdraw the amount subject to their objection about the validity of the acquisition proceedings SB Civil Misc. Appl.No.74/2008 M/s. Rajasthan Tools Ltd Vs. M/s. Pooja Granites & Marbles Ltd. And SB Company Misc. Appl IA No.16550/2008 Official Liquidator of M/s. Pooja Granites & Marbles Ltd. Vs. National Highway Authority of India 8 as well as their right to get more money as compensation for acquisition of land and he may withdraw that amount, which is paid by the National Highway Authority or paid by the competent authority with whom the money has been deposited or may be deposited by the National Highway Authority under the Act of 1956. (PRAKASH TATIA), J. c.p.goyal/-