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Shri Dharmendra Chelawat, learned counsel for the ED.
Shri D.S. Panwar, learned counsel for the UCO Bank.
It is pointed out that IA No.4841/2017 is at the instance of Shri Ramareddy V. Guntaka, the highest bidder for the shares of M/s Sudarshan Biotech Private Limited in respect of Lot No.2 for confirming the sale in his favour. Same is the prayer in the OLR No.20/2017.
Learned counsel for the ED has submitted that the proposed purchaser Shri Ramareddy V. Guntaka is the Chief Scientific Advisor to M/s Sudarshan Biotech Private Limited and that M/s Zoom Developers had purchased the said shares of M/s Sudarshan Biotech Private Limited for Rs.16.6 Crores and now the shares have been purchased by Shri Ramareddy V. Guntaka for a sum of Rs.11,30,000/-. He submits that the proposed highest bidder is an interested person who has purchased the shares and the purchase has been done in collusion with M/s Sudarshan Biotech Private Limited.