BALLY FABS INTERNATIONAL LIMITED Vs. IDBI BANK LIMITED

JUDGEMENT

(1.) Mr. Ajit Kumar Jain the duly authorized representative of the plaintiff is present on behalf of the petitioner. On 6th April, 2018 the plaint was presented on behalf of the plaintiff by Mr. Jain.

(2.) In this application the petitioner is praying for a mandatory order directing the respondents to approve the draft deed of conveyance forwarded by the petitioner under cover of a letter dated 20th February, 2018 and upon such approval to execute the deed of conveyance.

(3.) It appears that pursuant to the notices published by the authorized th rd officer of IDBI Bank on 24 August, 2017 and 3 November, 2017 for sale of the factory comprising of immovable and movable assets by way of st public auction followed by a further notice dated 31 December, 2017, the petitioner claims to have participated in the auction and deposited the th earnest money with the bank on 17 January, 2018. The petitioner contends that the petitioner was declared the highest bidder for Rs.4,00,10,000/- for the movable assets and Rs.14,01,00,000/- towards immovable property of the said company. The petitioner contends that the petitioner made payment of the balance amount of Rs.3,60,10,000/- on th 18 January, 2018 for the movable assets duly confirmed by the bank.