1951 (9) TMI 26

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....1951, the Official Liquidator was authorised to sell the mill premises by a public auction, the sale being subject to confirmation by the court. The sale was held on the 27 th May, and the highest bid thereat was one of Rs. 1,10,000 made by the appellant. On the 9th June, the Official Liquidator made a full report to the court in which, after stating all the relevant circumstances, he expressed the opinion that the price offered by the appellant was inadequate and recommended that the sale should not be confirmed. On the 10th June, the firm of R.B. Bansidhar Sons and Company made an offer to the court of Rs. 1,14,000 for the property. On the 16th June the learned Company Judge fixed the 25th June for the consideration of the Official Liquid....

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....9th June, it is difficult to think that the appellant has a genuine grievance, and in view of the express condition of the auction that the sale would be subject to confirmation by the court, we think it clear that the appellant has no right to insist on his offer, although it was highest, being accepted. It has been pressed upon us that there should have been an order by the court refusing to confirm the sale of the property to the appellant. We think that any difficulty which arises in this case would have been avoided if such an order had been made in clear terms, but at the same time we think it manifest that that is the implication of the order of the 25th June, for the offer of Rs. 1,15,000 could not have been accepted save on the bas....