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TMI Blog1995 (8) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... hat they are interested in buying the lot for Rs. 14 lakhs. The first respondent cancelled the earlier auction and once again the said lot was put to auction. On 30-9-1994 on which date also the petitioner renewed his bid of Rs. 10.50 lakhs, which is the highest. This time also, before ever the confirmation was made, the same Amith Enterprises wrote a letter to the first respondent, offering to buy the goods for Rs. 12.50 lakhs. Hence the goods were once again brought to auction on 27-10-1994. This time also the petitioner renewed his bid for Rs.10.50 lakhs. The Additional Collector of Customs requested the petitioner to enhance the offer voluntarily to Rs. 12 lakhs and the petitioner also accepted and revised the Offer to Rs. 12 lakhs. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. The first respondent further contended that the third respondent has no authority to confirm the sale and the exclusive right to accept or reject the Offer is with the first respondent. Whenever an Offer is received, it should be forwarded to the third respondent just for approval and not for confirmation. This is because the third respondent is having a lien over the property for the charges due to them and unless they are satisfied with the Offer, they may not approve the same. The approval or non-approval by the third respondent would depend upon the fact as to whether the Offer would satisfy the claim of the third respondent i.e., the amount due to them. By letter dated 15-11-1994 sent by the third respondent, the petitioner will not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a non existing firm and the first respondent themselves fully aware of the same, is the letter sent by them to the said Amith Enterprises had returned unserved. When that be so, the first respondent has no other option except to accept the Offer of the petitioner. There is no valid reason to reject the Offer of the petitioner. It is further contended that if the third respondent has no say in the matter of acceptance of the Offer, then there is no necessity for the first respondent to forward any offer to the third respondent either for approval or for acceptance. When once the offer is forwarded to the third respondent, it will mean that both the first and third respondent should act conjointly and when the third respondent confirmed th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was fixed at Rs. 1.15 lakhs. The Offer received was Rs.10 lakhs. Even though the auction was held on five occasions in between 26-12-1991 and 25-6-1992 there was no bid at all. The Offer made on 25-6-1992 was also rejected and thereafter in a number of occasions there was no bid and ultimately on 25-2-1993 the data price reduced to Rs. 40 lakhs and the Offer made was Rs. 7.50 lakhs which was also rejected. From February, 1993 till 27-10-1994 there were number of auctions held and the data price has been reduced periodically and ultimately the price was fixed at Rs.10 lakhs. The petitioner's Offer on three occasions on 15-9-1994, 30-9-1994 and 27-10-1994 is for Rs. 10.50 lakhs. There is no bid at all. In such circumstances, this Court is e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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