Leave granted.
This appeal is directed against the order passed by the High Court in
Company Appeal No.5 of 2005, whereby the order passed by the learned Company
Judge rejecting the appellant's appeal for release of the two shop rooms in
question, has been upheld.
On behalf of the appellant, it is submitted that the two shop rooms in
question did not form part of the assets of the company in liquidation, and that in
any event, the same had been purchased by the appellant from the erstwhile
landlord before the final winding up order
came to be passed on 2nd May, 2003. We may indicate that the said two shop rooms
were said to have been purchased by the appellant on 8th June, 2001 and 4th March,
2003 respectively.
Having heard learned counsel for the appellant as well as the Official
Liquidator, we are of the view that while a final decision is to be taken on the
appellant's application pending before the Company Judge, the appellant may be
allowed to use the two shop rooms for her own use till a final decision is arrived at
regarding the ownership of the same.
Accordingly, we allow the appeal and direct that necessary directions
be given by the learned Company Judge to the Official Liquidator to allow the
appellant to use the two shop rooms till a final decision is arrived at in the
application filed by the appellant before the Learned Company Judge regarding
the ownership of the shops in question. Such directions must be given within a
month from the date of communication of this order subject to the appellant filing
an undertaking that she will not transfer or encumber the said shop – rooms
during the pendency of Company Appeal No.5 of 2005.