CUSTODIAN Vs. SCHOKHI INDUSTRIALS PVT LTD

JUDGEMENT

(1.) BY this Petition, the Custodian seeks direction that the 1st Respondent be directed to deposit a sum of Rs. 10 lacs with interest at 18% per annum from the date of filing of the Petition till payment and/or realisation.

(2.) FACTS briefly stated are as follows :

(3.) THE 1st Respondent herein also gave an offer by their letter dated 21st November 1996. However, they did not deposit earnest money and imposed certain other conditions. The matter reached hearing on 3rd December 1996 when the offerers were not present in Court. The Court therefore, adjourned it to 9th December 1996 directing the Custodian to ask the offerers to remain present in Court. Court also directed the Custodian to inform the 1st Respondent that their conditions were not acceptable.