{"id":102400,"date":"2010-12-03T00:00:00","date_gmt":"2010-12-02T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/karnataka-state-financial-vs-bee-jay-pee-sacks-private-on-3-december-2010"},"modified":"2018-12-22T21:36:05","modified_gmt":"2018-12-22T16:06:05","slug":"karnataka-state-financial-vs-bee-jay-pee-sacks-private-on-3-december-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/karnataka-state-financial-vs-bee-jay-pee-sacks-private-on-3-december-2010","title":{"rendered":"Karnataka State Financial … vs Bee Jay Pee Sacks (Private) … on 3 December, 2010"},"content":{"rendered":"
Karnataka High Court<\/div>\n
Karnataka State Financial … vs Bee Jay Pee Sacks (Private) … on 3 December, 2010<\/div>\n
Author: H N Das<\/div>\n
IN THE HIGH COURT OF KARNATAKA AT BANGALORE\n\nDATED THIS THE 03rd DAY OF DECEMBER 20\":   \n\nBEFORE, \nTHE HON'BLE MR. JUSTICE NA'GAIyIO'I\u00a7IAI\\I' ITJAS<\/pre>\n
COMPANY APPLIr:A3.fIONVN9f1066\/520.;Q, :3 V ‘
\nCOMPAN'{..PET1TI’O1\u00a7I:’NOBSQ\/2004’-A <\/p>\n
BETWEEN:\n<\/p>\n
KARNATAI{A..ST}\\TE I\u00ab’:’:INAN\u00a7\u00e9IAI;”CORPO:I2ATION
\nHAVING IT$1._\u00a7~1}\u00a3:AD. OFI+”IC_E AT  ”\n<\/p>\n
No.1\/1, THIMMV I~,=-m,I_LI    *<\/p>\n
BANGALOI2E’i.5S;o 054.2,,  ..<\/p>\n
REPriESENTED  _
\nDEPU7lY*.GENERfALMA.’\\IAGER (RECOVERY–I]\n<\/p>\n
 – — =     …APPLICANT<\/p>\n
[BY SR1. SIC .pAND1T,*~.AD\\’}. ,1<\/p>\n
 V’       ….. .. V<\/p>\n
‘ .f1″; =BEE’JAY PEE SACKS [PRIVATE] LIMITED,<\/p>\n
 INvI.,1QUIDATION],
\n. “‘REPRETSEANTED BY THE OFFICIAL LIQUIDATOR,
\n“-\u00ab.__NO_.v2’6.–2*’7, 12TH FLOOR RAHEJA TOWERS,
\nM..G..ROAD, BANGALORE–56O 001.<\/p>\n
V. ” :2} STATE BANK OF INDIA,
\n*  MAIN BRANCH,<\/p>\n
SAYYAJ I RAO ROAD<\/p>\n
MYSORE.\n<\/p>\n
Pd<\/p>\n
3. KARNATAKA STATE INDUSTRIAL INVESTMENT
\nAND DEVELOPMENT CORPORATION, ‘ I
\n49, 4TH FLOOR, EAST WING,<\/p>\n
KHANIJA BAVAN, RACE COURSE ROAD.
\nBANGALORE.\n<\/p>\n
{BY SRLK.S.MAIIpIDEvAN:,;3{II;JAyARAM\u00a7_}:xI3vS;;i\u00a5jQI%:\n<\/p>\n
R1. R2&R3 SD.     ~ <\/p>\n
..,.,RI\u00a7:S1\u00e9olI$I’D\u00a3:N*I*S_.. as I <\/p>\n
THIS APPLICATION  9 o’I\u00ab’._’1I’*I:~I\u00e9i= CSQMIDANIES<\/p>\n
(COURT) RULES.1959,. ‘WITH-~A…I?_’RAYER TO”!-XCACEPT THE
\nOFFER OF SR1 GOVl1\\II”:)AA i_’2E\u00a7)I).Y”‘~.I1’E:RESPECT OF THE
\nPLANT AND MAcHIN\u00a7:R’Y.__   UNDER
\nLIQUIDATION,.RS\u00a7;19.\u20acSQ’LAKHS; T  I<\/p>\n
THIS 9.241.;I;QQ1I}II’Nf}”.f)NV:If’C)R’:OI2DERS THIS DAY, THE
\ncoURfr”MA;D.E;’.TH.\u00a7i’IiQI;LQwINC{f<\/p>\n
I  AA~-._TC)F;DER<\/p>\n
  g_:0urtV”‘by…o.rder dated 4.4.2005 in C.A.No. 844\/05<\/p>\n
  the land. building, piant and machinery.<\/p>\n
 ‘die Tzvas less, this court by order dated 12.10.07<\/p>\n
‘V rejee’tezdV”‘.\u00a2VtIie Same and directed to take out fresh<\/p>\n
I I V’ .,adve4rt1svement. Subsequently, this court directed to take out<\/p>\n
I   advertisement vicle order dated 3.9.2010.<\/p>\n
 “AecordingIy, separate advertisement was taken to sell the<\/p>\n
W,<\/p>\n
imrnoveable property and the plant and machinery. In so far
\nas plant and machinery is concerned, one Sri fG’oVinda<\/p>\n
Reddy offered a sum of Rs.19.80 lakhs  <\/p>\n
present before the court and increases   <\/p>\n
lakhs. Having regard to the estimated’ value ‘meV7pfes\u00e9’nt 7<\/p>\n
offer made by the purchaser at  1a1<.hs,"Iv <\/p>\n
considered opinion that the  a;adV'"reasonable.V<\/p>\n
Accordingly, the offer"   Reddy"  a sum of<\/p>\n
Rs.2O lakhs for Dlantlan-ii   hereby accepted.
\nSri   one week to<\/p>\n
deposit tlfiel    lakhs. After deposit of<\/p>\n
the amount  the\u00abpurch.aser,_' the applicant– KSFC is hereby
\ndirected to  plant and machinery to the
\npu_rc–haser".a <\/p>\n
E5'Sinte only one offer was received in so far as land<\/p>\n
  concerned, and that too for a lesser price,<\/p>\n
  hereby rejected. The applicant KSFC is<\/p>\n
 directed to secure fresh Valuation report in a sealed cover<\/p>\n
if  produce before the court and also take fresh<\/p>\n
–…_<\/p>\n
advertisement for sale of the land and building ___of the
\ncompany in Iiquidation.\n<\/p>\n
Accordingly, the application is disposed of.<\/p>\n
EMD deposited by other_bidders_-‘o\ufb01giadt’:vtoo”‘be,V  <\/p>\n
returned forthwith.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court Karnataka State Financial … vs Bee Jay Pee Sacks (Private) … on 3 December, 2010 Author: H N Das IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 03rd DAY OF DECEMBER 20″: BEFORE, THE HON’BLE MR. JUSTICE NA’GAIyIO’I\u00a7IAI\\I’ ITJAS COMPANY APPLIr:A3.fIONVN9f1066\/520.;Q, :3 V ‘ COMPAN'{..PET1TI’O1\u00a7I:’NOBSQ\/2004’-A BETWEEN: KARNATAI{A..ST}\\TE I\u00ab’:’:INAN\u00a7\u00e9IAI;”CORPO:I2ATION HAVING […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-102400","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nKarnataka State Financial ... vs Bee Jay Pee Sacks (Private) ... on 3 December, 2010 - Free Judgements of Supreme Court & High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/karnataka-state-financial-vs-bee-jay-pee-sacks-private-on-3-december-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Karnataka State Financial ... vs Bee Jay Pee Sacks (Private) ... on 3 December, 2010 - 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