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Heard Sri Vikram Pooserla, learned Senior Counsel
representing Ms. Siva Praneetha Sreeramula, learned counsel for the
Applicant and Sri J. Srinadh Reddy, learned standing counsel
appearing for Official Liquidator (OL). Despiteservice of notice, none
appears for 2nd respondent.
2. This application is filed under 536 (2) of the Companies Act,
1956 (for short, ‘the Act’) read with Sections 9 and 10 of Companies
(Court ) Rules, 1959 (for short, ‘the Rules’) and Section 151 of CPC
to declare the Applicant as the rightful owner of the property i.e. the
land admeasuring 7865 sq.yards or Ac.01.25 guntas out of Ac.3.20
guntas in Sy.No.655 (part), situated at Peddapur Village and
Grampanchayat, Sadasivpet Mandal, Sangareddy District ( for short,
‘the subject property’) purchased vide registered sale deed bearing
document No.67 of 2018, dated 03.01.2018 and also to declare the
said transaction as bonafide.
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