Deed Of Conveyance By The Official Liquidator Of A Limited Company - Legal Draft

Deed

of conveyance made on this........ day of......... between M/s AB & Co Ltd

in liquidation by its liquidator Mr........ being the official liquidator for

the State of Maharashtra having his office at........ hereinafter referred to

as the Vendor of the First Part and Mr.'' X'' residing at....... hereinafter

referred to as the Confirming Party of the Second Part and M/s XZ & Co Ltd

a company registered under the Companies Act 1956 and having registered office

at............ hereinafter referred to as the purchaser of the Third Part as

followsWHEREAS1. The said AB & Co.

Ltd is public company limited by share registered under the Companies Act 1956.2. One Mr...........

filed a petition No.......in the High Court at u/ S 439 of the Companies Act

1956 for an order for the winding up of the company m, the same being unable to

pay its debts.3. By an order

dated.........passed in the said petition after going through the legal

procedure the High Court ordered the said AB and Co. Ltd to be wound up under

the directions of the court and appointed Mr....... the official liquidator s

the liquidator of the said company with all powers as the Companies Act

provides.4. In the court of such

winding up the official Liquidator on a report submitted to the High Court

applied to the High Court for permission to sell there immoveable property of

the company situated at.......... and more particularly described in the

schedule hereunder annexed.5. By an order dated........

passed at the Official Liquidator's report the High Court authorized the

official Liquidator as liquidator of the said company to sell the said property

by public auction or by inviting private tenders.6. Pursuant to the last

mentioned order the official Liquidator as such liquidator put up the said

property for auction through M/s XY auctioneers after properly advertising the

sale on the...........day of...........7. At such sale the

confirming party was declared the highest bidder at the price of Rs...........and

the confirming party paid amount of earnest money of Rs........being 25% of the

highest bid and signed the agreement for purchase subject to the sanction of

the court.8. The confirming party

has represented to the official liquidator that he had given the said bid for

and on behalf of the purchaser and the earnest money was also paid by the

purchaser through the confirming party and the purchase also confirm the same.

The confirming party theerfor requested the Official Liquidator to execute the

deed of conveyance in favour of the purchaser direct.9. The official

liquidator thereafter submitted his report on the sale of the property onto the

High Court and the High Court by its order dated.........approved and

sanctioned the sale of the said property to the confirming party or his nominee

at the price of Rs.......and on the terms and condition of the sale by auction.10. The purchase has paid

to the official Liquidator the balance purchase price of Rs....... on

the..........day of........ and has requested the official liquidator as

liquidator of the company to execute these presents, which the official

liquidator has agreed to do, and on this deed being also executed by the

confirming party such.NOW

THIS DEEED WITNESSETHThat

pursuant to the premises and in consideration of the said sum f Rs........paid

by the purchase to the vendor as hereinbefore e stated (receipt whereof the

vendor doth admit) the said AB & Co Ltd (in liquidation) by its duly

appointed liquidator being the said official liquidator i.e. the vendor doth

hereby grant and convey to the purchaser and the confirming party doth confirm

all that piece of land or ground with a building thereon situate

at..........and more particularly described in the schedule hereunder written

together with all things permanently attached thereto and standing thereon and

all the privileges, easements, profits, advantages, rights, and appurtenances

whatsoever to the said party belonging and all the estate, right, title

interest, claim and demand whatsoever in law or otherwise of the vendor into or

upon the said property and other premises herby conveyed and every part

thereof.. To Have and To Hold the same unto and to the use for the purchaser

absolutely and forever but subject to the payment of all taxes assessments dues

and duties now chargeable or payable and hereafter to become chargeable or

payable in respect of the said property herby conveyed to the government or

local authority or any other public body.And

the official Liquidator as the liquidator of the said AB and Company limited

both hereby covenant with the purchase that he the liquidator has not done or

omitted to be done any act deed or thing whatsoever whereby or by means whereof

he is prevented from granting and conveying the said property in the manner

aforesaid.The

Schedule Referred toSigned

for and on behalf of M/s. AB & Co Ltd)(in

liquidation) by its liquidator being the present Official liquidator attached

to the High Court at.......)in

the presence of)Signed

by the with in named confirming party ''X'')In

the presence of