IN THE HIGH COURT OF KERALA AT ERNAKULAM
Co.Appeal.No. 26 of 2009()
1. V.H. ABOO, S/O. HUSSAIN,
... Petitioner
Vs
1. M/S. ELCERA SUBSTRATES LIMITED
... Respondent
2. THE KERALA STATE INDUSTRIES
3. HANEEFA.P,
4. HARVEST INDUSTRIES,
For Petitioner :SRI.K.JAYAKUMAR
For Respondent :SRI.T.H.ABDUL AZEEZ
The Hon'ble MR. Justice P.R.RAMAN
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :26/11/2009
O R D E R
P.R.RAMAN & P.R.RAMACHANDRA MENON
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Co. Appeal No.26 of 2009
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Dated this the 26th November, 2009
J U D G M E N T
Raman, J.
Appellant submitted his offer pursuant to the tender
invited. Though his original offer was Rs.88 lakhs, he has
enhanced the same from Rs.88 lakhs to Rs.92,52,000/-. There
was yet another tenderer who also increased his offer from
Rs.1,00,01,000/- to Rs.1,05,01,000/-. Thus, only two tenders
with increased offer came up for consideration. Considering the
assets of the Company, the learned Company Judge thought that
the revised offers received were not satisfactory, and therefore,
he was not inclined to confirm the sale in favour of either of the
applicants at that stage, and directed the Official Liquidator to
invite fresh bids from the general public. Contending that he is
not interested in making any offer pursuant to the new
advertisement, he sought for return of his EMD deposit. The
learned Company Judge felt that it will not be proper at that
Co.Appeal No.26 of 2009
2
stage to pass such an order and adjourned the case to be posted
after a week. Thus, the Company Judge has not declined to
return the security deposit, but only deferred the request to be
considered on a later stage. No error of Law arise from such an
order. It is only when the request for withdrawal of the security
deposit, if ultimately, is dismissed, that would arise a cause for
any grievance. At any rate, the discretion having been exercised
properly, we do not find any reason to interfere in this appeal, at
this stage. Accordingly, the appeal is dismissed.
P.R.RAMAN, JUDGE
P.R.RAMACHANDRA MENON, JUDGE.
nj.