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Issues: Whether the auction purchaser was entitled to a direction requiring KIADB to execute the deed of conveyance, and whether the sale could be denied on the ground that only leasehold rights, and not absolute title, were available for sale.
Analysis: The land had originally been allotted under a lease-cum-sale arrangement, but the lease period had long expired and there was no clear basis to treat the property as available for outright sale by the company in liquidation. However, the auction notice issued under the court's leave described the assets broadly and did not make it clear that the sale was confined only to leasehold rights. The purchaser participated in the auction, paid the bid amount, and acted as a bona fide purchaser for value on the footing that the sale was effective and confirmed. In these circumstances, KIADB could not rely on the omission in the advertisement to deny the consequence of the confirmed sale, as that would amount to approbating and reprobating.
Conclusion: The purchaser was entitled to the conveyance, and KIADB could not refuse to execute the deed on the ground now asserted.
Ratio Decidendi: Where a court-confirmed auction is acted upon by a bona fide purchaser for value, the notifying authority cannot later defeat the sale by relying on an omission in the notice when the purchaser was led to believe that the sale was effective as advertised.