{"id":249918,"date":"2010-03-04T00:00:00","date_gmt":"2010-03-03T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/official-vs-union-on-4-march-2010"},"modified":"2017-11-18T16:05:22","modified_gmt":"2017-11-18T10:35:22","slug":"official-vs-union-on-4-march-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/official-vs-union-on-4-march-2010","title":{"rendered":"Official vs Union on 4 March, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Official vs Union on 4 March, 2010<\/div>\n<div class=\"doc_author\">Author: M.R. Shah,&amp;Nbsp;<\/div>\n<pre id=\"pre_1\">   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\t \n\t\n\n\n \n\n\n\t \n\nOLR\/22\/2010\t 4\/ 6\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\n \n\n\n \n\nOFFICIAL\nLIQUDATOR REPORT No. 22 of 2010\n \n\nIn\n\n\n \n\nCOMPANY\nPETITION No. 102 of 1998\n \n\n \n======================================\n\n\n \n\nOFFICIAL\nLIQUIDATOR OF M\/S ANAL POLYESTER PVT LTD - Applicant\n \n\nVersus\n \n\nUNION\nBANK OF INDIA &amp; 1 - Respondents\n \n\n======================================\nAppearance : \nMR.HIREN\nM MODI for the Applicant. \nMR DEVANG TRIVEDI for respondent No.1\n \nPARTY-IN-PERSON as Respondent\nNo.2. \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 M.R. SHAH\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 04\/03\/2010 \n\n \n\n \nORAL\nORDER<\/pre>\n<p id=\"p_1\">1.\t\tThe<br \/>\npresent Official Liquidator Report has been preferred by the<br \/>\napplicant   Official Liquidator of M\/s.Anal Polyester Private<br \/>\nLimited (In Liquidation) to consider the offer of respondent No.2<br \/>\nHareshbhai R. Padaria to purchase the leasehold land admeasuring<br \/>\napproximately 1908 sq.mtrs., Building structure and allied Civil<br \/>\nConstruction situated at Plot No.20\/C, Survey No.400 &amp; 402 paiki,<br \/>\nKadi Industrial Estate, Village- Budasan, Taluka: Kadi, District:<br \/>\nMehsana and Plant &amp; Machinery and all other movables (except<br \/>\nrecords) for Rs.38,11,111\/- on the terms and conditions of sale as<br \/>\nspecified in the tender form at Annexure   F or on such other and<br \/>\nfurther terms and conditions as may be decided by this Court.\n<\/p>\n<p id=\"p_1\">2.\t\tHeard<br \/>\nMr.Hiren Modi, learned advocate appearing on behalf of the applicant\n<\/p>\n<p id=\"p_2\">&#8211; Official Liquidator of M\/s.Anal Polyester Private Limited (In<br \/>\nLiquidation); Mr.Devang Trivedi, learned advocate appearing on behalf<br \/>\nof respondent No.1- Union Bank of India and respondent No.2<br \/>\nHareshbhai R. Padaria, who is personally present in the Court.\n<\/p>\n<p id=\"p_3\">3.\t\tIt<br \/>\nappears that Sale Committee invited the tenders from the eligible<br \/>\nofferers and upset price and EMD was fixed by this Court vide order<br \/>\ndated 18\/11\/2009 in Official Liquidator Report No.135 of 2009 and for<br \/>\nthe same, upset price for Lot Nos.I and II (composite offer) is Rs.37<br \/>\nLacs. Offers were invited by giving public advertisement in  Divya<br \/>\nBhaskar  in gujarati language and in  DNA  in English language<br \/>\nin Ahmedabad editions. It is reported that respondent No.2 is the<br \/>\nhighest offerer, who has offered to purchase Lot Nos.I and II<br \/>\n(Composite Offer) (except records) for an amount of Rs.38,11,111\/-.<br \/>\nConsidering the earlier experience and considering the offer of<br \/>\nrespondent No.2 for Rs.38,11,111\/- and considering the valuation<br \/>\nreport, offer of respondent No.2 to purchase Lot Nos.I and II<br \/>\n(composite offer) for Rs.38,11,111\/-  seems to be reasonable.\n<\/p>\n<p id=\"p_4\">4.\t\tMr.Devang<br \/>\nTrivedi, learned advocate appearing on behalf of respondent No.1<br \/>\nUnion Bank of India- Secured Creditor is also satisfied with the<br \/>\noffer submitted by respondent No.2 for purchase of Lot Nos.I and II<br \/>\n(composite offer)  for amount of Rs.38,11,111\/-.\n<\/p>\n<p id=\"p_5\">5.\t\tConsidering<br \/>\nthe aforesaid facts and circumstances of the case and offer of<br \/>\nrespondent No.2 to purchase Lot Nos.I and II (Composite offer) i.e.<br \/>\nleasehold land admeasuring approximately 1908 sq.mtrs., Building<br \/>\nstructure and allied Civil Construction situated at Plot No.20\/C,<br \/>\nSurvey No.400 &amp; 402 paiki, Kadi Industrial Estate, Village-<br \/>\nBudasan, Taluka: Kadi, District: Mehsana and Plant &amp; Machinery<br \/>\nand all other movables (except records) for an amount of<br \/>\nRs.38,11,111\/- is hereby accepted, on the following terms and<br \/>\nconditions :-\n<\/p>\n<p id=\"p_6\">(1)\tThe<br \/>\nsale of the properties of Company (In Liquidation) is on  AS IS<br \/>\nWHERE IS AND WHATEVER THERE IS BASIS .<\/p>\n<pre id=\"pre_1\">\n \n\n\n \n\n\n \n\n\n(2)\tRespondent\nNo.2    purchaser\n<\/pre>\n<p id=\"p_7\">shall pay the balance amount of sale consideration after<br \/>\ndeducting the amount deposited by him with Official Liquidator within<br \/>\na period of six weeks from today. No further extension shall<br \/>\nbe granted.\n<\/p>\n<p id=\"p_8\">(3)\tThe<br \/>\nstamp duty, registration charges, AUDA\/ Society charges and all other<br \/>\nincidental charges thereto shall be borne by respondent No.2 &#8211;<br \/>\npurchaser.\n<\/p>\n<p id=\"p_9\">(4)\tThe<br \/>\npurchaser shall accept the tenure of the land area as they actually<br \/>\nexist on the date of confirmation of sale and the vendor shall not be<br \/>\nbound to compensate him in respect of difference in the tenure or in<br \/>\nthe area or to incur the costs of ascertaining the correct area or<br \/>\ntenure thereof or such other expenses in connection therewith.\n<\/p>\n<p id=\"p_10\">(5)\tThe<br \/>\nproperty will be conveyed and assigned to the purchaser by the vendor<br \/>\nwho alone will execute the documents, if any, in favour of the<br \/>\npurchaser. The purchaser shall not require the concurrence in such<br \/>\ndocuments of any other person or persons. The vendor is selling the<br \/>\nproperty as the Official Liquidator  attached to this Court pursuant<br \/>\nto the directions of this Court in the matter and as such will not<br \/>\ngive any warranty or indemnity of any kind, whatsoever.\n<\/p>\n<p id=\"p_11\">(6)\tThe<br \/>\npurchaser shall be liable to pay all statutory dues, if any, due and<br \/>\npayable on the properties of the subject company for the period after<br \/>\nthe date of winding-up order. The payment of such dues for<br \/>\npre-Liquidation period shall be settled as per the provisions of the<br \/>\n<a href=\"\/doc\/1353758\/\" id=\"a_1\">Companies Act<\/a>,1956. However dues, taxes, cess, if any, applicable on<br \/>\nthe sale of assets shall be paid by the purchaser.\n<\/p>\n<p id=\"p_12\">(7)\tThe<br \/>\nproperties shall be handed over to the purchaser on payment of full<br \/>\nconsideration of sale price to the Official Liquidator.\n<\/p>\n<p id=\"p_13\">(8)\tIf<br \/>\nrespondent No.2- purchaser do not pay the balance amount of sale<br \/>\nconsideration to the Official Liquidator within stipulated time as<br \/>\nstated hereinabove, the Official Liquidator shall terminate the sale<br \/>\nand forfeit the deposit.\n<\/p>\n<p id=\"p_14\">(9)\tThe<br \/>\nvendor has no documents or title deeds relating to the properties<br \/>\nunder sale with him. The purchaser is neither entitled to call for<br \/>\nthe production of or delivery of any of the documents not in his<br \/>\npossession and shall not make any requisition or take any objection<br \/>\nin respect of such non-delivery thereof.\n<\/p>\n<p id=\"p_15\">(10)\tThe<br \/>\npurchaser shall satisfy himself about the right  and title of the<br \/>\nproperties after ascertaining from the concerned Registration<br \/>\nOfficers and other authorities and the vendor will not entertain any<br \/>\nclaim as regards to the right\/title to the property after this Court<br \/>\nconfirms the sale.\n<\/p>\n<p id=\"p_16\">(11)\tThe<br \/>\npurchaser shall be deemed to have purchased the properties after<br \/>\ncomplete examination &amp; inspection of it and shall not be entitled<br \/>\nto make any requisition or raise any objection as to the title or<br \/>\nconsideration of the property or any part thereof.\n<\/p>\n<p id=\"p_17\">(12)\tThe<br \/>\npurchaser shall be liable to pay and shall pay full amount of taxes<br \/>\nof all kinds, whatsoever which may have to be paid in respect of the<br \/>\nsale of the land or any taxes to be paid in this connection.\n<\/p>\n<p id=\"p_18\">(13)\tAs<br \/>\nfrom the date of confirmation of sale of the assets and property sold<br \/>\nto the purchaser shall be at the sole risk, cost account of the<br \/>\npurchaser as regards the destruction or any damage by fire or<br \/>\nearthquake or any other natural calamities otherwise whatsoever.\n<\/p>\n<p id=\"p_19\">(14)\tIf<br \/>\nthe purchaser fails to pay the purchase money\/balance amount and all<br \/>\ncosts charges and expenses payable by him to the vendor within time<br \/>\nspecified here-in-above and in all other respect of perform these<br \/>\nconditions or any of them, his entire amount deposited till then<br \/>\nshall be forfeited and the vendor shall be at liberty to sell the<br \/>\nproperty  tendering any conveyance and\/or assignment to such<br \/>\ndefaulting purchaser and without being bound to sell the property at<br \/>\nsuch time and subject to such condition and in such manner in all<br \/>\nrespects as he shall think proper. The deficiency in price, if any,<br \/>\noccasioned by such second sale and all cost charges and expenses<br \/>\noccasioned by such subsequent sale or any attempted second sale with<br \/>\ninterest thereon as may be fixed by this Court from the date of<br \/>\nconfirmation of first sale shall be immediately after such subsequent<br \/>\nsale be made good and paid by  the defaulting purchaser as by the way<br \/>\nof Liquidated damages, while any profit on such second sale shall not<br \/>\nbelong to the defaulting purchaser. This condition is not affected by<br \/>\nany other conditions hereof.\n<\/p>\n<p id=\"p_20\">(15)\tThe<br \/>\nofferors are requested  to note that no nomination will be allowed.\n<\/p>\n<p id=\"p_21\">\t\tWith<br \/>\nthis, the present Official Liquidator Report is disposed of.\n<\/p>\n<p id=\"p_22\">[M.R.SHAH,J]<\/p>\n<p>*dipti<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Official vs Union on 4 March, 2010 Author: M.R. Shah,&amp;Nbsp; Gujarat High Court Case Information System Print OLR\/22\/2010 4\/ 6 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD OFFICIAL LIQUDATOR REPORT No. 22 of 2010 In COMPANY PETITION No. 102 of 1998 ====================================== OFFICIAL LIQUIDATOR OF M\/S ANAL POLYESTER PVT LTD [&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-249918","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 v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Official vs Union on 4 March, 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\/official-vs-union-on-4-march-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Official vs Union on 4 March, 2010 - Free Judgements of Supreme Court &amp; 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