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CA/510/2010 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
CIVIL
APPLICATION No. 510 of 2010
In
SPECIAL CIVIL APPLICATION No. 4353 of 2008
To
CIVIL
APPLICATION No. 520 of 2010
In
SPECIAL CIVIL APPLICATION No. 4353 of 2008
=========================================================
THE
LIQUIDATOR PETROFILS CO. OPERATIVE LTD (IN LIQUIDATION) -
Petitioner(s)
Versus
INDUSTRIAL
DEVELOPMENT BANK OFINDIA LTD (IDBI LTD) & 12 - Respondent(s)
=========================================================
Appearance :
MR
MS RAO for
Petitioner(s) : 1,
MR BHARAT JANI for Respondent(s) : 1, 10,
None
for Respondent(s) : 2, 9,
MR PRANAV G DESAI for Respondent(s) : 3
- 7.
MR BH BHAGAT for Respondent(s) : 8,
MR KI SHAH for
Respondent(s) : 11 - 12.
MR CZ SANKHLA for Respondent(s) :
13,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
Date
: 09/02/2010
ORAL
ORDER
1. Notice,
returnable on 18th March, 2010, to all the respondents in
the concerned Civil Application with the observation that if any of
the respondent has any prospective buyer or is desirous to raise the
offer, the same may be placed on record on the next date as well as
the copy of the same may be served to the applicant Liquidator.
If the said offerer has not submitted the offer, he will be required
to quantify his offer and he will have to deposit 10% of the offered
amount with the late entry fee at the rate of 12% per annum from the
last date of the deposit and till the amount of E.M.D. is actually
deposited with the Liquidator.
2. Additionally,
it is directed that the Liquidator shall get the notice published in
one Gujarati newspaper having widest circulation in Gujarat
i.e.’Gujarat Samachar’ and English newspaper ‘Indian Express’ having
wide circulation in all editions of Gujarat.
3. In
the same manner, the advertisement shall be published in the
newspaper having widest circulation of Marathi language as well as of
Gujarati language in Mumbai and English newspaper ‘Indian Express’
having wide circulation in Mumbai. The name of newspapers for Marathi
and Gujarati may be decided by the Liquidator.
4. The
advertisement shall also be published in the English newspaper
‘Indian Express’, Kanpur edition and in the local newspaper in Hindi
having circulation in Kanpur area.
5. The
advertisement shall also be published in local language of Bangali
having wide circulation in Calcutta as well as in English newspaper
viz. ‘Indian Express’ having circulation in Calcutta.
6. In
all the advertisement the following details shall be incorporated:
(1) The
property details of that particular area, the highest offer received
and if anyone is interested to submit offer more than highest offer
or is desirous to have inter
se bidding before the Court finalizes the offer already
submitted.
(2) However,
such new offerers will have to deposit 10% of the offered amount with
the late entry fee and such offer may be submitted in the Court on
the next date of hearing and/or copy may also be submitted to the
Liquidator.
7. The
other respondents who are banker and financial institutions who are
having interest in the property, shall also be at the liberty to
bring the buyers who are ready to offer the amount exceeding the
highest offer on the aforesaid terms and conditions for consideration
of their offer or for permitting them to have the inter se
bidding.
8. Office
to separately prepare the compilation of each Civil Application.
9. Direct
service permitted.
[JAYANT
PATEL, J.]
jani
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