RASILABEN KANTILAL KANSARA Vs. SUMITRA AMRITLAL KOCHA

JUDGEMENT

(1.) THIS Chamber Summons relates to the time for making payment of the balance of the purchase price, in view of the order dated 23rd February, 2004, passed by this Court, whereby applicant's offer was accepted and sale of the flat bearing No. B-21 at Sea-Gull Apartment, 4-A, Bhulabhai Desai Road, Mumbai, was confirmed for an amount of Rs. 55,00,000/-, being the highest offer received on that date. The sale was conducted under the Rules and Conditions of the Bombay High Court (Original Side) Rules (for short "high Court Rules. ")

(2.) THE applicant, in pursuance to the said order has already deposited Rs. 13,75,000. 00 being 25% of the aforesaid purchase price with the Court Receiver on 23rd February, 2004, and the sale of the said flat was confirmed on usual terms and conditions, which provided for payment of balance purchase price within four weeks from the date of confirmation of the sale by this court. The case of the applicant herein is that he was expecting a large payment from one of his client by Friday, 20th March, 2004. However, the said commitment was not fulfilled by the said client. The applicant, therefore, was short of funds and was constrained to approach this Court for a short extension of time for a period of two weeks to deposit the balance purchase price in respect of the said flat.

(3.) ON 22nd March, 2004, by way of a Praecipe, accordingly, application was moved at 2. 45 p. m. On the same day, at 4. 45 p. m. , the Counsel appearing for the plaintiff pointed out the urgency and accordingly, the matter was listed on 23rd March, 2004. The defendant No. 1 appeared and objected and insisted that formal application for extension of time should be filed by the parties for grant of such extension. One Ms. Bhavna Bafna, an unsuccessful auction-purchaser, through her Advocate, also opposed the said application of the applicant.