(1.) Heard Sri Shashi Nandan, learned Senior Counsel assisted by Sri Sudhanshu Pandey, learned counsel for the petitioners and Sri H.N. Singh, learned Senior Counsel assisted by Sri Abhishek Dwivedi, learned counsel for the contesting respondent No. 8.
(2.) In the present case, a recovery proceedings of about Rs.34.00 lakhs as arrears of land revenue was initiated against the petitioners by putting the cold storage on auction.
(3.) Initial, three attempts for auction were failed on 18/5/1989, 28/5/1989 and 8/6/1989 respectively either on ground of insufficient bid or highest bidder failed to deposit requisite 1/4th of bid amount within the stipulated time.