Where area of land short delivered in auction was less than 5 per cent, auction purchaser was not entitled to refund of any amount with respect to land short delivered

CL : Where area of land short delivered in auction was less than 5 per cent, auction purchaser was not entitled to refund of any amount with respect to land short delivered
■■■
[2014] 48 taxmann.com 341 (Gujarat)
HIGH COURT OF GUJARAT
Aarsh Infrastructure Ltd.
v.
Official Liquidator of Aryodaya Ginning and Manufacturing Mills Ltd.
M.R. SHAH AND S.H. VORA, JJ.
O.J. APPEAL NO. 102 OF 2009†
CO. APPLICATION NO. 43 OF 2008
OFFICIAL LIQUIDATOR REPORT NO. 101 OF 2006
CO. PETITION NO. 157 OF 1989
JANUARY  15, 2013
Section 283 of the Companies Act, 2013/Section 456 of the Companies Act, 1956 - Winding up - Custody of company’s properties - Appellant was highest bidder in auction conducted in respect of industrial plot of company-in-liquidation consisting of two plots and sale was confirmed in its favour - However, on taking possession of land appellant found that land in plot was short conveyed and claimed refund in that respect - Company Court by impugned order dismissed appellant's claim holding that as area, which was short conveyed, was less than 5 per cent of total area of 5 per cent, appellant was not entitled to any refund - Whether since plots were sold under a composite offer and area short delivered was less than 5 per cent, Company Court was justified in its order - Held, yes - Whether even otherwise since sale was on 'as is where is' and whatever there is basis, it was not open for purchaser to make any grievance with respect to short delivery after sale was confirmed and conveyance deed had been executed - Held, yes [Paras 5 & 5.1]