2018 (11) TMI 148

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....secured creditor, pursuant to an interim order passed by this Court. The petitioner's grievances are that despite clear position of facts and law, the charge of the State VAT department and the alleged outstanding dues of the Provident Fund Commissioner from the Revenue records is not being removed. 2. Brief facts are as under. 3. Petitioner is a limited liability partnership firm. Respondent no.1 is a scheduled bank. Respondent nos.2 and 3 are the officers of the Government VAT department. Respondent no.4 is the Employees' Provident Fund Organization ('EPFO' for short). Immovable property in the nature of land with plant and machinery of one M/s.Computer Skill Limited was a subject matter of dispute between the Union ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Under the circumstances, following interim directions are issued : 1) It would be open for the petitioner to sale the property in question through public auction by following the procedure prescribed under the SARFAESI Act and rules made thereunder. 2) Additionally, the petitioner shall after obtaining the report of the current valuation of the property, provide a copy thereof to respondent no.1. 3) Public auction shall not be conducted before 15 clear days of supply of such copy to respondent no.1. 4) If respondent no.1 has any objection to such valuation, it will be open for him to raise it before the petitioner. 5) After ascertainment of the upset price through such process, it would be open f....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rs, Commercial Tax Department (related to recovery of VAT / Sales Tax) and Provident Fund Department will be paid / fulfilled by THE PARTY OF THE FIRST PART from the sale consideration paid by THE PARTY OF THE SECOND PART. THE PARTY OF THE FIRST PART hereby also undertakes to get the property released from the charge / lien of all the Secured Landers, Commercial Tax Department and Provident Fund Department immediately upon satisfaction of their outstanding / recoveries. ... ... That the Party of the Second Part shall be entitled to get transferred the said property in the name of Party of the Second Part in the records of Nandoli Gram Panchayat, Uttar Gujarat Vij Co. Limited, Revenue records as well in al....