SREI EQUIPMENT FINANCE LTD Vs. SUSANTA DEY

JUDGEMENT

(1.) In terms of the order dated April 4, 2019 the Receiver has issued public notice in the newspapers inviting offers to purchase the asset in question. From the report of the Receiver filed before this Court it appears that he has received two offers. One Mr. Vinod Chawla has offered to purchase the asset in question, which is asset at a price of Rs.9,00,000/- and M/S. GAYATHRI AUTO MART has offered to purchase the said asset at Rs.8,25,000/-. Thus, the offer of Mr. Vinod Chawla is the highest offer. Along with his offer Mr. Vinod Chawla has also furnished a demand draft of Rs.1,80,000/- in favour of the applicant.

(2.) Considering the above facts, subject to payment of balance amount of Rs.7,20,000/- by Mr. Vinod Chawla to the applicant within a period of three weeks from date, the sale of the Backhoe Loader bearing Registration No. WB-33C-2746, Engine No. H0073736, Machine Serial No. 1868914 and Chassis No. HAR3DXSST01868914 along with all its accessories is confirmed in favour of Mr. Vinod Chawla.

(3.) Upon being informed of the receipt of the amount of Rs.7,20,000/- by the applicant, the Receiver through his agent shall make over possession of the aforementioned asset in favour of Mr. Vinod Chawla.