P. Anantharajan vs. Official Liquidator
Held
The High Court dismissed the appeal, upholding the Company Judge's decision to reject the appellant's application for sale confirmation. The Court found the appellant's conduct inconsistent, noted the inordinate and unexplained delay in seeking to pay, and rejected the contention of an oral direction from the Court, stating the order sheet was sacrosanct.
Facts
The appellant was the highest bidder for copper ingots in a company liquidation sale. After the sale was confirmed, he initially refused to pay the balance consideration plus 18% GST and sought a refund of his EMD. Following the forfeiture of his EMD and the Official Liquidator being allowed to re-tender, the appellant later claimed an oral court direction to pay the full amount, which he remitted, and sought confirmation of the sale.
Key Issues
Whether the Company Judge correctly dismissed the application for sale confirmation, considering the appellant's inconsistent conduct, unexplained delay in remitting the balance sale consideration, and the veracity of an alleged oral court direction to make the payment.
Sections Cited
None mentioned
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE C.T.RAVIKUMAR & THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN TUESDAY, THE 23RD DAY OF MARCH 2021 / 2ND CHAITHRA, 1943 Co.Appeal.No.1 OF 2021 AGAINST THE ORDER DATED 18.02.2021 IN C.A.NO.1/2021 IN C.P.NO.2/1996 OF HIGH COURT OF KERALA APPELLANT/APPLICANT: P.ANANTHARAJAN, AGED 58 YEARS S/O.PERIYASAMY, NO.7, HAPPY HOMES, SIVANAGAR, 1ST MAIN ROAD, RAMALINGA NAGAR, TRICHY, TAMIL NADU, PIN 620 003 BY ADV. SMT.BINDU GEORGE RESPONDENT/RESPONDENTS: 1 OFFICIAL LIQUIDATOR, HIGH COURT OF KERALA, COMPANY LAW BHAVAN, THRIKKAKARA P.O.,COCHIN 21, (M/S. PREMIER CABLE COMPANY LIMITED) IN LIQN) 2 M/S.UCO BANK, ERNAKULAM BRANCH, CLOTH BAZAR ROAD, ERNAKULAM PIN 682 031. R1 BY ADV.SRI.K.MONI R2 BY ADV.H.RAMANAN, SC FOR UCO BANK THIS COMPANY APPEAL HAVING BEEN FINALLY HEARD ON 05-03-2021, THE COURT ON 23-03-2021 DELIVERED THE FOLLOWING:
Co.Appeal.No.1 OF 2021 ..2.. JUDGMENT Dated this the 23rd day of March 2021 MURALI PURUSHOTHAMAN,J. The challenge in this appeal is against the order dated 18.02.2021 in C.A.No.1/2021 in C.P.No.2/1996 of the Company Court. The appellant participated i
The judgment continues below.
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