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TMI Blog2013 (2) TMI 144X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 15.09.2012 in a sealed cover was submitted and the same was opened, which was indicating the value of the property, Thereafter, from among the persons who are present they were asked to quote their price and they were stated their price for the liquidating company. From among the persons a bid was made for a sum Rs. 86,00,000/-by M/s. Udapudi Cements Pvt. Ltd., Lokapur Taluk, Bagalkot. Hence, the Official Liquidator was directed to handover the property on accepting the entire amount as per law. 2. Today there were four applications filed of which, three applications have been filed by the bidders with a prayer to recall the order dated 01.10.2012 and to permit the applicants in these applications to quote more price than the price f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.04.2002 and winding up order was passed. Pursuant to the said order the Official Liquidator by filing necessary application seeking permission to dispose of the property by auction, the OLR. No. 297/2002 is filed to that effect and the same was allowed and the Official Liquidator was permitted to proceed with Notification for the purpose of public auction. 5. It is submitted by the learned counsel for the Official Liquidator that, the public Notifications were issued for inviting public for the purpose of public auctions and further Valuator was directed to submit Valuation Report in the sealed cover and first valuation report was made. Since, the said report was a year old, further direction was issued to make a fresh report. Accordingl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prayer to recall the order by permitting all the persons to participate in the public auction. The learned counsel relies on the judgment reported in the matter of Shradhha Aromatics (P.) Ltd. v. O.L. of Global Arya Industries Ltd. [2011] 108 SCL 1 (SC) wherein Hon'ble Supreme Court permitted e-auctioning the property for highest bid. Hence, he submitted that this Court to exercise its power in recalling the order and to permit all these applicants to participate in the public auction. 9. I heard the learned counsel appearing for both the parties. 10. The question involved in these applications is: "Whether these applicants are entitled to be allowed for fresh auction or to give sanctity to the proceedings initiated by this Court?" 11. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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