2010 (8) TMI 1084

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....al Liquidator And Mr.Hiren M Modi for the Applicant   Ms. Shachi Mathur Assistant Government Pleader And Mrs Sangeeta N Pahwa for the Respondent   ORAL ORDER 1. The Official Liquidator has filed this report, seeking several prayers from this Court. Though the Court has passed several orders from time to time dealing with and granting the prayers made by the Official Liquidator, ....

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....et. Accordingly, the Official Liquidator was directed to issue a short advertisement fixing-up the upset price of the property in question at Rs. 1.15 Crores and informing the prospective bidders to deposit EMD at 10% of the upset price and also informing them that inter-se bidding between the bidders will be taken place in the Court on 27th August, 2010. 2. Pursuant to the said order, the Offi....

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.... about Rs. 1,66,178/-. Out of 9 participants 3 participants namely (i) Citizen Metalloys Ltd. (ii) Mangal Murti Real Estate Pvt. Ltd. and (iii) Machintex Corporation, have at the outset submitted that they do not want to participate in the bidding process. Rest of the participants have agreed to pay the late entry charges and on that condition they are allowed to participate in the inter-se biddin....

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....per the condition no.15 of the tender document; (iii) On payment of the full consideration, the Official Liquidator shall hand over the possession within one week and execute the document as early as possible, preferably within a period of one month from the date of payment of full consideration. 3. The Official Liquidator shall hand over the Demand-Drafts to those three parties who ha....