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TMI Blog2017 (1) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... ons: 1) The price offered by the highest bidder for the five properties except for the property situate at Ajmer shall be the reserve price for the fresh auction to be conducted by SEBI. For the property situate at Ajmer the reserve price shall be taken at ₹ 41,00,00,000/-. We say so because Mr. Vikas Singh, learned senior counsel appearing for the successful bidder for the property at Ajmer submits that he has instruction to match the offer made by Shri Rajinder Daga at ₹ 41,00,00,000/-. 2) In the case of property at Ajmer and so also the four other properties mentioned above, the prospective bidders shall deposit with SEBI forfeitable security equivalent to 25% of the reserve price for the properties mentioned above. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ripathi, Adv., Mr. Nikhil Jain, Adv., Mr. Simranjeet Singh, Adv., Mr. Salim Inamdar, Adv., Mr. Gautam Talukdar, Adv., Mr. Ram Sajan Yadav, Adv., Mr. Vijay Kumar, Adv., Mr. Sarthak Nayak, Adv., Mr. Salman Khurshid, Sr. Adv., Mr. Yunus Malik, Adv., MS. Saroj Bala, Adv., Mr. Sanjeev Agarwal, Adv., Mr. Nidesh Gupta, Sr. Adv., Mr. Soayib Qureshi, Adv., Mr. Rabin Majumdar, Adv., Mr. Bishwajit Bhattacharya, Sr. Adv., Mr. Pawan Upadhayay, Adv., Mr. Sarvjit Pratap Singh, Adv., Ms. Sharmila Upadhyay,Adv., Mr. Vikas Singh, Sr. Adv., Mr. Anish Maheshwari, Adv., Ms. Farha Malik, Adv., Mr. Tushar Mehta, ASG, Mr. D.L.Chidananda, Adv., Ms. Sadhna Sandhu, Adv., Mr. M.K.Maroria, Adv., Mrs. Anil Katiyar,Adv., Mr. K.V.Viswanathan, Sr. Adv., Mr. Amit Singh Chad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ese I.As. which are hereby dismissed as withdrawn. Mr. Gupta has today handed over a bank draft for a sum of ₹ 4,05,00,000/- representing part of the sale consideration for Bahriach property which Saharas has agreed to sell to Mr. Gupta's client. He submits that the balance amount of ₹ 20,25,00,000/- shall be deposited in SEBI Sahara Account within a period of thirty days from today. That statement is recorded. I.A. No. 227 of 2016: Issue notice to the counsel opposite. Objections to this I.A. shall be filed before the next date of hearing i.e. 28.11.2016. I.As. No. 218-220 of 2016: Pursuant to our orders passed earlier, SEBI had offered for sale of seven properties situate at different locations in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eserve price for the said properties except in the case of property at Ajmer where the reserve price shall be treated to be ₹ 41,00,00,000/- offered by Shri Rajinder Daga. He submits that in order to ensure that only serious purchasers come forward, this Court could stipulate suitable conditions including one for deposit of forfeitable security so that in the event of any person making an offer and later backing out, the amount so furnished could be forfeited. Mr. Arvind Datar has no serious objection to the SEBI holding a second round of auction for the properties mentioned above on such conditions as may be stipulated by this Court. He urged that the amount so received could be initially deposited in the SEBI Sahara Account subje ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t make good his offer or does not participate in the auction. The amount so deposited shall be liable to be forfeited. 4) In case any one of the properties, does not attract any bid higher than the one received by SEBI in the first auction, the SEBI shall be free to finalise the sale and to issue the requisite sale Certificate in favour of highest successful bidder in the previous auction. A report on the progress made in the fresh auction shall be filed in this Court within six weeks. Mr. Kapil Sibal has today handed over to Mr. Arvind Datar, two Demand Drafts amounting to ₹ 50,00,00,000/- and 20,00,00,000/- apart from ₹ 130,00,00,000/- trabsferred by by RTGS making a total of ₹ 200,00,00,000/- in compliance with ..... X X X X Extracts X X X X X X X X Extracts X X X X
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