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TMI Blog2018 (1) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... property as regards the liability to pay statutory dues and the other taxes on the property sold in public auction, no observation as requested by learned advocate Mr.Jain need to be made. The report stands disposed of accordingly. - Official Liqudator Report No. 85 of 2016 And In Company Petition No. 59 of 2000 - - - Dated:- 27-12-2017 - MR. C.L. SONI, J. For The Applicant : Mr Bhargav Hasurkar, Advocate For The Respondent : Mr Pranav G Desai, Advocate ORAL ORDER 1. The present report is filed with following prayers in paragraph No.5 thereof: ( A) This Hon ble Court may be pleased to consider the sale in favour of the highest bidder after conducting inter-sebidding and on the terms and conditions of sale as pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be inadequate by the Court and the Court then made following order on 10.07.2017: 1. The following are present when the bids are opened:- a) Mr. Prakashkumar Bhatt on behalf of Ms. Sonal Prkashkumar Bhatt and Mr.Oja; b) Learned Advocate Mr. A.N.Ansari is also present in person and; c) Learned Advocate Ms.Hetvi Sancheti for Mr.Dinesh Maheshwari. 2. Today, offers are received from three bidders in the open Court. Bidders were permitted to bid inter-se. 3. After the third round, Mr. Maheshwari has placed a bid of ₹ 62,00,000/-. 4. In the opinion of this Court, prima facie the bid is of ₹ 62,00,000/= is inadequate. Official Liquidator is permitted to re-validate the Demand Drafts received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mprakash Maheshwari whether he could raise his bid or not. It was, thereafter, Mr.Dinesh Omprakash Maheshwari raised his bid upto ₹ 64,00,000/-. The Court finds that the sale to be made is of the office premises ad-measuring approximately 1458 Sq. ft. for which initially only two bidders came to bid for such property and, thereafter, third bidder was permitted but amongst these three bidders, the highest bid spoken was of ₹ 62,00,000/- and after the Court passed the order dated 10.07.2017 observing that it would be open to three bidders to make fresh bid, two bidders lost interest to purchase the property of the company. It is in such circumstances when the highest bidder who offered ₹ 62,00,000/- to purchase the property ..... X X X X Extracts X X X X X X X X Extracts X X X X
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