Madhya Pradesh High Court
In The Matter Of Shobha Soya Oil Product vs In The Matter Of M/S Shobha Soya Oil ... on 24 March, 2025
Author: Milind Ramesh Phadke
Bench: Milind Ramesh Phadke
1 COMP-5-2009
IN THE HIGH COURT OF MADHYA PRADESH
AT GWALIOR
COMP No. 5 of 2009
(IN THE MATTER OF SHOBHA SOYA OIL PRODUCT Vs IN THE MATTER OF M/S SHOBHA SOYA OIL
PRODUCTS LIMITED (IN PROVISIONAL LIQUIDATION) )
Dated : 24-03-2025
Shri Anuj Mohan Gupta - Advocate for the petitioner.
Shri Ashish Saraswat, Advocate for the respondent .
Shri Praveen Surange, Advocate for the applicant-Rajesh Kumar Jain.
Heard on I.A.No.2071/2025, an application under Rule 9 of the Companies (Court) Rules, 1959 seeking a prayer that the official liquidator may be directed to execute the sale deed towards the property auctioned in favour of the applicant/successful auction purchaser along-with the nominees as mentioned in the application.
In support of the aforesaid application learned counsel for the petitioner has placed reliance in the matter of Zoom Developers Pvt. Ltd and Camoron Finance and Investments Vs. Viral Enterprises and others, reported in 2004 (3) MHLJ 306 and in the matter of Raj Enterprises Vs. Sul India Limited, reported in 2006 (3) MPJR 296 and contended that in absence of any stipulation in notice for sale of terms and conditions prohibiting the execution of sale deed in favour of the nominee of the purchaser and in absence of any provisions in the Companies Act, 1956 and the Rules 272 and 273 for the same, the purchaser will have the option to have the sale deed executed in favour of his nominee. Thus, where there is no prohibition in the law the direction for execution of sale deed in favour of the nominee can very well be issued.
Signature Not Verified Signed by: ASHISH PAWAR Signing time: 28-03-2025 01:07:37 PM2 COMP-5-2009 The aforesaid legal aspect has not been challenged by the counsel for the respondents, but his only objection is that since on earlier date since this Court has directed to execute the sale deed in favour of the auction purchaser Rajesh Kumar Jain, therefore, without getting the said order modified the sale deed in favour of nominee cannot be executed.
After hearing the rival contentions and on going through the citations as placed, this Court finds that since there is no impediment in getting the sale deed executed in favour of the nominee of the auction purchaser the order dated 30.1.2025 can be modified, accordingly it is modified to the extent wherein it has been held that the sale deed be executed in favour of Rajesh Kumar Jain to that it be executed in favour of Rajesh Kumar Jain and/or his nominees.
With the aforesaid observation I.A.2071/2025 stands closed. The Official Liquidator is directed to hand over the possession of the property and execute the sale deed in favour of the auction purchaser and/or his nominees within a period of eight weeks from today.
List the matter for further hearing in the week commencing 23rd June, 2025.
(MILIND RAMESH PHADKE) JUDGE (aspr) Signature Not Verified Signed by: ASHISH PAWAR Signing time: 28-03-2025 01:07:37 PM