{"id":64370,"date":"2010-12-01T00:00:00","date_gmt":"2010-11-30T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/the-vs-industrial-on-1-december-2010"},"modified":"2018-10-20T11:44:34","modified_gmt":"2018-10-20T06:14:34","slug":"the-vs-industrial-on-1-december-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/the-vs-industrial-on-1-december-2010","title":{"rendered":"The vs Industrial on 1 December, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">The vs Industrial on 1 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\t \n\t\n\n\n \n\n\n\t \n\nCA\/510\/2010\t 3\/ 3\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCIVIL\nAPPLICATION No. 510 of 2010\n \n\nIn\nSPECIAL CIVIL APPLICATION No. 4353 of 2008\n \n\nTo\n\n\n \n\nCIVIL\nAPPLICATION No. 520 of 2010\n \n\nIn\nSPECIAL CIVIL APPLICATION No. 4353 of 2008\n \n\n \n=========================================================\n\n\n \n\nTHE\nLIQUIDATOR PETROFILS CO. OPERATIVE LTD (IN LIQUIDATION) -\nPetitioner(s)\n \n\nVersus\n \n\nINDUSTRIAL\nDEVELOPMENT BANK OFINDIA LTD (IDBI LTD) &amp; 12 - Respondent(s)\n \n\n=========================================================\nAppearance : \nMR\nMS RAO for\nPetitioner(s) : 1, \nMR BHARAT JANI for Respondent(s) : 1, 10, \nNone\nfor Respondent(s) : 2, 9, \nMR PRANAV G DESAI for Respondent(s) : 3\n- 7. \nMR BH BHAGAT for Respondent(s) : 8, \nMR KI SHAH for\nRespondent(s) : 11 - 12. \nMR CZ SANKHLA for Respondent(s) :\n13, \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: 09\/02\/2010 \n\n \n\nORAL\nORDER<\/pre>\n<p>1.\tNotice,<br \/>\nreturnable on 18th March, 2010, to all the respondents in<br \/>\nthe concerned Civil Application with the observation that if any of<br \/>\nthe respondent has any prospective buyer or is desirous to raise the<br \/>\noffer, the same may be placed on record on the next date as well as<br \/>\nthe copy of the same may be served to the applicant   Liquidator.<br \/>\nIf the said offerer has not submitted the offer, he will be required<br \/>\nto quantify his offer and he will have to deposit 10% of the offered<br \/>\namount with the late entry fee at the rate of 12% per annum from the<br \/>\nlast date of the deposit and till the amount of E.M.D. is actually<br \/>\ndeposited with the Liquidator.\n<\/p>\n<p>2.\tAdditionally,<br \/>\nit is directed that the Liquidator shall get the notice published in<br \/>\none Gujarati newspaper having widest circulation in Gujarat<br \/>\ni.e.&#8217;Gujarat Samachar&#8217; and English newspaper &#8216;Indian Express&#8217; having<br \/>\nwide circulation in all editions of Gujarat.\n<\/p>\n<p>3.\tIn<br \/>\nthe same manner, the advertisement shall be published in the<br \/>\nnewspaper having widest circulation of Marathi language as well as of<br \/>\nGujarati language in Mumbai and English newspaper &#8216;Indian Express&#8217;<br \/>\nhaving wide circulation in Mumbai. The name of newspapers for Marathi<br \/>\nand Gujarati may be decided by the Liquidator.\n<\/p>\n<p>4.\tThe<br \/>\nadvertisement shall also be published in the English newspaper<br \/>\n&#8216;Indian Express&#8217;, Kanpur edition and in the local newspaper in Hindi<br \/>\nhaving circulation in Kanpur area.\n<\/p>\n<p>5.\tThe<br \/>\nadvertisement shall also be published in local language of Bangali<br \/>\nhaving wide circulation in Calcutta as well as in English newspaper<br \/>\nviz. &#8216;Indian Express&#8217; having circulation in Calcutta.\n<\/p>\n<p>6.\tIn<br \/>\nall the advertisement the following details shall be incorporated:\n<\/p>\n<p>(1)\tThe<br \/>\nproperty details of that particular area, the highest offer received<br \/>\nand if anyone is interested to submit offer more than highest offer<br \/>\nor is desirous to have inter<br \/>\nse bidding before the Court finalizes the offer already<br \/>\nsubmitted.\n<\/p>\n<p>(2)\tHowever,<br \/>\nsuch new offerers will have to deposit 10% of the offered amount with<br \/>\nthe late entry fee and such offer may be submitted in the Court on<br \/>\nthe next date of hearing and\/or copy may also be submitted to the<br \/>\nLiquidator.\n<\/p>\n<p>7.\tThe<br \/>\nother respondents who are banker and financial institutions who are<br \/>\nhaving interest in the property, shall also be at the liberty to<br \/>\nbring the buyers who are ready to offer the amount exceeding the<br \/>\nhighest offer on the aforesaid terms and conditions for consideration<br \/>\nof their offer or for permitting them to have the inter se<br \/>\nbidding.\n<\/p>\n<p>8.\tOffice<br \/>\nto separately prepare the compilation of each Civil Application.\n<\/p>\n<p>9.\tDirect<br \/>\nservice permitted.\n<\/p>\n<p>[JAYANT<br \/>\nPATEL, J.]<\/p>\n<p>jani<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court The vs Industrial on 1 December, 2010 Author: Jayant Patel,&amp;Nbsp; Gujarat High Court Case Information System Print 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 [&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-64370","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>The vs Industrial on 1 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\/the-vs-industrial-on-1-december-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The vs Industrial on 1 December, 2010 - Free Judgements of Supreme Court &amp; 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