VRUSHTI INDUSTRIES-THROUGH PROPREITOR NARESH RAICHAND SHAH Vs. GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION

JUDGEMENT

(1.) This appeal is filed under Clause-15 of the Letters Patent against the CAV judgment dated 25.09.2017 passed by the learned Single Judge in Special Civil Application No.3361 of 2013 by which the learned Single Judge has dismissed the petition filed by the appellant - original petitioner.

(2.) Heard learned advocate Mr.Y.N. Ravani for the appellant - original petitioner and learned advocate Mr.R.D. Dave for the respondents.

(3.) Learned advocate Mr.Ravani appearing for the appellant - original petitioner submitted that plot/shed bearing No.A2/2411 situated at GIDC Ankleshwar was earlier occupied by M/s. Manish Group of Industries (Firm). The said plot was allotted to the said Firm on 27.04.1984 and Lease Agreement was executed by the respondents with the said Firm. However, the said Firm could not pay the amount or financial assistance provided by the concerned Bank. Proceedings against said Firm were initiated before Debt Recovery Tribunal (DRT), Mumbai. It is submitted that the DRT-II, Mumbai, pursuant to the orders passed in the said proceedings, put the said plot in question in auction. Auction notice was issued, pursuance to which, the petitioner participated in the said process which was held on 19.04.2010. As the petitioner was the highest bidder, Sale Certificate was issued in favour of the petitioner on 13.07.2010. Thereafter, Deed of Assignment came to be executed by the Recovery Officer, DRT, in favour of the petitioner on 23.08.2010. Thus, it is contended that the petitioner is the bona-fide purchaser, who has purchased the property in question in the auction held before the DRT.