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TMI Blog2011 (7) TMI 1005X X X X Extracts X X X X X X X X Extracts X X X X ..... but the bid money was deposited beyond the time granted by the Court and so it is now seeking acceptance of the belated payments made by it. 2. The relevant facts may first be noticed. In this voluntary winding up petition filed by M/s Continental Textile Mills Ltd. an order was passed on 13-10-2004 for the winding up of the said Company ('the Company in liquidation'). Thereafter, the Official Liquidator gave a public notice through various newspapers inviting sealed tenders for the purchase of some land of the Company in liquidation in Ahmedabad ('the land in question') on 'as is where is and whatever there is basis'. The reserve price of that land was fixed at Rs. 9,00,54,000. The applicant-auction purchaser and seventeen other parties had submitted their offers ranging from the minimum reserve price to Rs. 21 crores. The applicant-auction purchaser's offer was for Rs. 9,90,00,000. However, with a view to get more price for the land in question open bidding was conducted before the Court on 1-2-2007 in which all the eighteen parties who had already submitted their offers, including the present applicant-auction purchaser, had participated. The applicant-auction purchaser gav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to know about the few facts, (A) Will Matter ( i ) One Miss Nayanaben Jyotindra Trivedi, 7 Sadhav Appartment, Jayant Park, Society, Mani Nagar, Ghodosar Road, Ahmedabad by way of a Registered Will executed on 23-10-1986 by one Late Shri Indravadam Chimanlal Patel in her favour claims herself to be the owner of land measuring 1,17,718 Sq. mtrs. which has been sold by the Official Liquidator on 1-2-2007 for recovery of the Debts of the Company in Liquidation. As per her the Company in Liquidation was the Tenant in the land question and hand no right or title over the land to pass on. She has sent a Notice to the Official Liquidator as well. Now she has filed C.A. No. 777/2007 seeking enforcement of the Will. (B) Lease Matter ( ii ) Two other persons namely Ashok Kumar Shreepal Ramesh Bhai Patel claim that a part of the land in question measuring 23,358 Sq. mtr. belongs to them. This land was given by them to the Company in Liquidation on rent and since 1991-92 they have not received the rent as well. They have also filed an Application being C.A. No. 219-20/2007 in this Hon'ble Court with the following prayer. (C) Possession ( iii ) As per the valuation Report subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Ex-Director; Mr. M.K. Verma. Following prayers were made in this application : ( a )To propone the matter for an early date; ( b )To condone the delay in depositing the remaining 75 per cent of the bid amount and the applicant be allowed to deposit the above amount with the Registrar General of this Hon'ble Court with a direction to deposit the same in the F.D.R. for 6 months; ( c )The Official Liquidator be directed to take over the possession and Title Deeds of the land in question from the persons/Authorities under whose power and control the same are; ( d )This Hon'ble Court may be pleased to pass appropriate orders and/or directions to the Official Liquidator the Collector, Ahmedabad to remove all encroachments and to remove all persons occupying part of land of Continental Textile Mills Ltd. (in Liqd.) situated at Naroda Road, Nr. Arvind Mills, Asarwa, Ahmedabad; ( e )This Hon'ble Court may be pleased to pass an appropriate order that the applicant may be allowed to depute their security Guards to protect land and be allowed to place their Board at site till disposal of this application. The applicant may be allowed to carry out work of cleaning and lev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 1 is correct or not. By this action the issue of best price will be decided once forever. That it is therefore, in the interest of justice that appropriate that the matter be proponed and the order dated 18-3-2009 be modified to the extent that the Official Liquidator is directed to publish a fresh Sale Notice in the Local News Papers of Gujarat/Mumbai Delhi with a Reserve price of Rs. 61,00,00,000." 6. The auction-purchaser, however, changed its mind and withdrew that application on 25-9-2009 thereby leaving only CO. A. No. 601/08 to be decided by this Court. In this application, as noticed already, many reliefs were claimed but during the course of hearing, submissions were made by Dr. Abhishek Manu Singhvi, learned senior counsel for the auction-purchaser, only for accepting the belated payments of the bid money. 7. This application was opposed by the Official Liquidator as well as some persons who claimed themselves to be the contributories in the Company in liquidation, one of whom was stated to be related to Shri M.K. Verma, ex-Director of the Company in liquidation. These persons-objectors have already brought to the Court one party (M/s Safal Realty (P.) Ltd., ..... X X X X Extracts X X X X X X X X Extracts X X X X
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