SHAFI Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) The Official Liquidator invited tenders for the sale of 8.13 acres of land comprised in Sy. No. 125/4, Block No. 25 of Mundakkal Village of Kollam Taluk. The applicant herein quoted Rs. 17,77,37,511/-. Along with the offer, the applicant also deposited Rs. 25,00,000/- towards Earnest Money Deposit. The offers received were placed before this Court and in Report 46 filed by the Official Liquidator, this Court passed order dated 27.11.2012, accepting the tender submitted by the applicant and confirming sale in his favour. As per clause (g) of the tender conditions, the tenderer whose offer is accepted shall deposit the balance amount payable in two monthly installments from the date of intimation of acceptance of his offer by the High Court. According to the applicant, the first installment is payable on 7.2.2013 and second, on 7.3.2013. In this application, the first prayer sought for is that the applicant shall be permitted to pay the installment payable on 7.2.2013 along with the second installment, which is payable on 7.3.2013.

(2.) Heard learned counsel for the Official Liquidator.

(3.) As per the tender conditions which are binding on the applicant, 50% of the amount due from him is payable on 7.2.2013. Therefore, the applicant has no right to demand enlargement of time and any enlargement of time for payment of the amount due from him can be only subject to payment of interest. Accordingly, I direct that the time for payment of the amount payable on 7.2.2013 will stand extended till 7.3.2013 subject to the condition that the first installment due will carry interest at 10% from 7.2.2013 till payment on the due date.