Gujarat High Court
M/S.Ajar Enterprises Pvt.Ltd vs O.L.Of M/S.Rajpur Mfg. Co Ltd on 2 August, 2010
Author: K.A.Puj
Bench: K.A.Puj
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY APPLICATION No 274 of 2002
in
OFFICIAL LIQUDATOR REPORT No. 2 of 2002
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M/S.AJAR ENTERPRISES PVT.LTD.
Versus
O.L.OF M/S.RAJPUR MFG. CO LTD.
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Appearance:
1. COMPANY APPLICATION No. 274 of 2002
MR PRANAV G DESAI for Petitioner No. 1
OFFICIAL LIQUIDATOR for Respondent No. 1
SINGHI & CO for Respondent No. 2
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CORAM : MR.JUSTICE K.A.PUJ
Date of Order: 25/11/2002
ORAL ORDER
Earlier, this Court has passed an order on 30th October 2002 recording that Mr. Anilkumar Jain of Arham Security Limited, Ujjain, is interested to purchase both the Lots No. 1 and 2 and further has shown his willingness to send the Earnest Money Deposit for the said Lots and on that ground the matter was adjourned today, i.e. 25.11.2002 directing all the parties to personally present before this Court at 2.15 P.M. today. This Court had further directed the Official Liquidator to inform the said Shri Anilkumar Jain of Ujjain to deposit Rs. 50 lakhs in all with ICICI Bank Ltd., as EMD latest by 15.11.2002 which would entitle him to participate in the bid.
2.Today, when the matter is called out, Mr. Anilkumar Jain of Arham Security Ltd., is present before the Court. He however states before the Court that he is interested only in Lot No.1 and hence he has brought the draft of Rs. 25 lakhs only. After hearing the parties, Mr. Jain is directed to deposit the draft of Rs. 25 lakhs with the ICICI Bank Ltd and accordingly the said draft is given to M/s. Singhi & Co.,, ld. advocates appearing for ICICI Bank Ltd.
3.Mr. Pranav G. Desai, ld. advocate appearing for the applicant M/s. Ajar Enterprises Pvt.Ltd., states that his client has already deposited the sum of Rs. 25 lakhs before the ICICI Bank way back on 24th September 2002 for purchase of the property, viz., Lot No.1. Today Mr. Desai, ld. advocate appearing for the applicant makes a statement that his client is also interested in Lot No.2 as well and for that purpose the applicant is ready and willing to deposit E.M.D. towards Lot No.2. and thereby the total amount of Rs. 50 lakhs towards EMD would be deposited. He has further submitted that the applicant is also ready and willing to purchase the properties of Lots No. 1 and 2 for an amount of atleast Rs. 12.30 Crores. However, he seeks time of three days. Considering the facts and circumstances of the case and considering the objects of the open bid in the Court to fetch more price for the properties, the request of Mr. Desai is accepted and hence the matter is adjourned to 29th November 2002 at 2.15 p.m. rmr. [ K.A. Puj, J. ]