DHARTI AGRO INDUSTRIES PRIVATE LIMITED Vs. MANAGING DIRECTOR, PASCHIMANCHAL VIDYUT VITRAN NIGAM LIMITED

JUDGEMENT

(1.) Mr. Ashish Kumar, learned counsel appears for the petitioner and Mr. Kartikeya Saran, learned Additional Advocate General appears for the State-respondents.

(2.) The factual matrix of the case which has given rise to instant dispute are as under :-

(3.) The petitioner, who was interested in buying immovable assets of the debtor company, had deposited earnest money of 30 lakhs as fixed by the auctioneer, and participated in the auction wherein the reserved price was fixed at 284.39 lakhs. During auction proceedings against the reserved price Rs.284.39 lakhs, the petitioner had given bid of 518.39 lakhs. His bid being the highest, he was declared successful bidder. As per the auction conditions at the end of the day of auction, the balance amount was to be paid by the purchaser to the Liquidator. The petitioner paid the full amount, towards full and final payment of the auction money. Thereafter, the sale certificate was issued on 7/7/2022 in favour of the petitioner and the possession letter was also issued on 27/7/2022 for the immovable properties of M/s. Chaudhary Ingots Pvt. Ltd. Later on, the title deed/sale-deed was also executed on 29/5/2024 of the auctioned property in the name of the petitioner.