{"id":119642,"date":"2010-12-27T00:00:00","date_gmt":"2010-12-26T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/gannon-vs-official-on-27-december-2010"},"modified":"2017-08-12T01:00:46","modified_gmt":"2017-08-11T19:30:46","slug":"gannon-vs-official-on-27-december-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/gannon-vs-official-on-27-december-2010","title":{"rendered":"Gannon vs Official on 27 December, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Gannon vs Official on 27 December, 2010<\/div>\n<div class=\"doc_author\">Author: Jayant Patel,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nCOMA\/234\/2009\t 2\/ 2\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCOMPANY\nAPPLICATION No. 234 of 2009\n \n\nIn\n\n\n \n\nOFFICIAL\nLIQUDATOR REPORT No. 143 of 2008\n \n\nIn\n\n\n \n\nCOMPANY\nPETITION No. 67 of 1993\n \n\n=========================================================\n\n\n \n\nGANNON\nDUNKERLY AND CO LTD - Applicant(s)\n \n\nVersus\n \n\nOFFICIAL\nLIQUIDATOR OF M\/S TESTEELS LTD (IN LIQUIDATION) &amp; 5 -\nRespondent(s)\n \n\n=========================================================\nAppearance : \nMR\nASHOK L SHAH for Applicant(s) : 1, \nOFFICIAL\nLIQUIDATOR for Respondent(s) : 1, \nNone for Respondent(s) : 2 -\n6. \n=========================================================\n\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE JAYANT PATEL\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 23\/06\/2009 \n\n \n\n \nORAL\nORDER<\/pre>\n<p>The<br \/>\n\tpresent application is for directing the OL to refund the amount of<br \/>\n\tEMD of applicant whose offer is not accepted by the Sale Committee.\n<\/p>\n<p>Upon<br \/>\n\thearing Mr.Shah for the applicant and Ms.Yagnik for OL, it appears<br \/>\n\tthat whenever the offer is not accepted, the offerer would be<br \/>\n\tentitled for return of the EMD in normal circumstances and based on<br \/>\n\tsuch principal, the applicant would also be entitled to get back the<br \/>\n\trefund of EMD.\n<\/p>\n<p>However,<br \/>\n\tit has been submitted on behalf of the OL by Ms.Yagnik that Sale<br \/>\n\tCommittee resolved for retention of the deposit of the applicant<br \/>\n\tbeing the second highest bidder vide its proceeding of the meeting<br \/>\n\tdated 25.05.2008 and therefore, the OL has retained the deposit.  It<br \/>\n\twas also submitted that based on the proceeding of the Sale<br \/>\n\tCommittee, OL has moved the report being OLR No.143\/08 before this<br \/>\n\tCourt and the matter is awaiting decision.\n<\/p>\n<p>Be<br \/>\n\tas it may. Even the approach on the part of the Sale Committee to<br \/>\n\tretain the deposit of the second highest offerer, cannot be<br \/>\n\tcountenanced considering the facts and circumstances of the case.<br \/>\n\tSo far as the confirmation of the sale is concerned, the matter at<br \/>\n\tlarge would be considered by this Court in the proceedings of OLR<br \/>\n\tNo.143\/08.\n<\/p>\n<p>Mr.Shah,<br \/>\n\tlearned counsel appearing for the applicant had declared before this<br \/>\n\tCourt that the applicant has no more interest in participation of<br \/>\n\tthe sale of the property by submitting his offer or otherwise by<br \/>\n\tcontinuation of his offer.\n<\/p>\n<p>Under<br \/>\n\tthese circumstances, the OL shall refund the EMD of the applicant<br \/>\n\twhose offer is not accepted preferably within two weeks from the<br \/>\n\tdate of the order of this Court.\n<\/p>\n<p>Disposed<br \/>\n\tof accordingly.\n<\/p>\n<p>  (JAYANT PATEL, J.)<\/p>\n<p>*bjoy<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Gannon vs Official on 27 December, 2010 Author: Jayant Patel,&amp;Nbsp; Gujarat High Court Case Information System Print COMA\/234\/2009 2\/ 2 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY APPLICATION No. 234 of 2009 In OFFICIAL LIQUDATOR REPORT No. 143 of 2008 In COMPANY PETITION No. 67 of 1993 ========================================================= GANNON [&hellip;]<\/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":[16,8],"tags":[],"class_list":["post-119642","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gannon vs Official on 27 December, 2010 - Free Judgements of Supreme Court &amp; 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\/gannon-vs-official-on-27-december-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gannon vs Official on 27 December, 2010 - Free Judgements of Supreme Court &amp; 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