DATTA Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) The Liquidator of Parbhani People's Cooperative Bank Ltd., Parbhani ('the Bank' for short), auctioned a plot admeasuring 2832.37 sq. mtr. along with a multi storey building standing on it, owned by the Bank. In all these writ petitions, the petitioners are calling in question the legality and propriety of the said auction, mainly on the grounds that the auction conditions were changed in the midst of the auction process, proper procedure was not adhered to , upset price fixed was highly inadequate, a fraud was committed in conduct of auction and there was collusion between the auction purchaser and auctioning authorities. Hence all these petitions are heard together and decided finally with the consent of the parties.

(2.) Brief facts which would be necessary to deal with the issues involved in the present matter are stated hence forward. The Respondent Parbhani People's Cooperative Bank Ltd. is a Cooperative Bank registered under the Provisions of Maharashtra Cooperative Societies, Act, 1960. As a result of alleged mismanagement and financial irregularities, the said bank went into liquidation in the year 2007. The property in question is a plot admeasuring 2832.37 sq. mtr along with multi-storey building standing on, which was put to auction by the Liquidator. The upset price was fixed to the tune of Rs.10,64,97,000/- and it was approved by the Commissioner, was based on valuation reports of two Government approved valuers and likewise due consideration was given to market value as per Government ready reckoner, was given.

(3.) The respondent Liquidator, on 03.05.2019, published E-Tender notice in two leading State level widely circulated newspapers and also published it on the webpage created by E-tendering agency.