Search Results Page

Search Results

1 - 10 of 19 (0.20 seconds)
M/S. Annapurna Industries And Another vs Syndicate Bank And Others on 20 January, 1993 cites

Hotel Nataraj And Others vs Karnataka State Financial Corporation ... on 19 April, 1988

The decision of the Supreme Court discloses that Court had made all possible efforts to secure better price for the property put to sale. The same cannot be said of the trial Court in the case on hand. The trial Court has gone on issuing publication after proclamation without applying its mind as to whether the proclamation so issued had been given due publicity. Industrial land of two acres with machinery is not an ordinary commodity which many people in the village want to buy. Even in a big town it is difficult to find buyers of such an establishment. Therefore, it was necessary for the Court to have the sale proclamations published in the official gazette or in a newspaper having circulation not merely in the State but also outside the State. Even after the publication of the sale proclamation in 'Nivika' newspaper failed to bring bidders in March 1991, it was imperative for the Court to have taken resort to Order 21, Rule 67 (2) CPC. There also the Court failed to apply its mind to the facts of this case and went on mechanically issuing four more proclama-tions and after finding a bidder offering 1 / 3rd of the valuation of the property, accepted the same as the highest price offered by the bidder. What should be the duty of the Court in such a case has been emphasised by this Court in a decision reported in M/s. Hotel Nataraja v. Karnataka State Financial Corporation, . In paragraph 25, this Court has observed as under -
Karnataka High Court Cites 33 - Cited by 9 - Full Document
1   2 Next