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M/S. United Electronics (India) Ltd. vs Ajay Kumar on 10 November, 2017

Bench: Adarsh Kumar Goel, R. Banumathi

                                                          1

     ITEM NO.21                                IN COURT NO.5                   SECTION XIV

                                    S U P R E M E C O U R T O F          I N D I A
                                            RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C) No(s). 571/2017
     (Arising out of impugned final judgment and order dated 08-11-2016
     in OSA No. 8/2015 passed by the High Court Of Himachal Pradesh At
     Shimla)

     M/S. UNITED ELECTRONICS (INDIA) LTD. & ANR.                              Petitioner(s)

                                                       VERSUS

     AJAY KUMAR & ORS.                                  Respondent(s)
     (IA   No.66818/2017-DELETING  THE   NAME   OF  RESPONDENT   and  IA
     No.85556/2017-DELETING THE NAME OF RESPONDENT)

     Date : 10-11-2017 These matters were called on for hearing today.

     CORAM :
                             HON'BLE MR. JUSTICE ADARSH KUMAR GOEL
                             HON'BLE MRS. JUSTICE R. BANUMATHI

     For Petitioner(s)                   Mr.   Rohit Sharma,Adv.
                                         Mr.   Kumar Dushyant Singh, AOR
                                         Mr.   Anshul Choudhary,Adv.
                                         Mr.   Mohit Aneja,Adv.

     For Respondent(s)                   Mr. Chava Badri Nath Babu,Adv.
                                         Mr. V. Rayudu,Adv.
                                         Mr. Rameshwar Prasad Goyal, AOR

                                         Mr. J.S. Attri,Adv.
                                         Mr. Varinder Kumar Sharma, AOR
                                         Mr. Chandra Nand Jha,Adv.

                              UPON hearing the counsel the Court made the following
                                                 O R D E R

Heard learned counsel for the parties. Application for deletion of name of respondents is allowed.

On 27.02.2017, this Court passed the following order:

MADHU BALA Date: 2017.11.14 23:24:36 IST Reason:

“Pursuant to our orders dated 13.01.2017, the petitioners have produced a buyer and have also prepared a demand draft for Rs.1.60 crores drawn in favour of the  2 Registrar, Supreme Court of India. The petitioners are permitted to deposit the said amount with the Registrar, Supreme Court of India during the course of the day. The Registry is directed to keep the said amount in a fixed deposit account initially for a period of three months, which shall be renewed periodically.

Issue notice, returnable in four weeks.

Status quo, as on today, with regard to the property in question shall be maintained, until further orders”.

Learned counsel for respondent No.1 - Auction Purchaser is ready to match the offer and states that he will pay further amount to match the said amount of Rs.1.60 crores. The said amount, less the amount deposited in the High Court may be paid within a period of three months. On payment, the said amount may be withdrawn by the decree holder. The 2nd respondent-decree holder is also permitted to withdraw the amount already deposited by the auction-purchaser along with accrued interest, if not already withdrawn.

The amount deposited by the proposed buyer may be refunded along with accrued interest which was deposited in this court pursuant to this court's order.

If the payment in terms of the aforesaid order is not made by respondent no.1 then bid will stand rejected and he will be not entitled to claim. In that case, It will be open to the proposed buyer to pay the amount to the decree holders.

The special leave petition is, accordingly, disposed of.

Pending application(s), if any, shall also stand disposed of.

(MADHU BALA) (PARVEEN KUMARI PASRICHA) COURT MASTER (SH) BRANCH OFFICER