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TMI Blog1951 (9) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Liquidator's report and he also directed the Official Liquidator to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ine 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 basis of the non-confirmation of the sale of the property to the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ospective purchaser will not disclose to the liquidator the final figure to which he is prepared to go if his offer is liable to be outbid by someone else when the sale comes up before the court for approval." It is also in our opinion desirable that, in the case of sales effected by an Official Liquidator, a reserve price should, if possible, be fixed ; and in that event the purchaser at the sale, provided his price exceeds the reserve and there has been no fraud or irregularity, would be entitled to have the sale confirmed notwithstanding the subsequent receipt of a higher offer : Soundararajan v. Mahomed Ismail. In these circumstances we dismiss this appeal, but there will be no order as to costs. The order of stay made by this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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