CHOUDHARY KUMAR CONSULTANTS Vs. STATE OF BIHAR

JUDGEMENT

(1.) HEARD Mr. Sukumar Sinha, counsel appearing for the petitioner and Mr. R.K. Dutta appearing on behalf of Bihar State Credit & Investment Corporation (BiCICo, for short).

(2.) IN response to a notice for the sale of the properties of M/s Neeraj Newspaper Associates Pvt. Ltd., a defaulting unit, issued by BICICO under Section 29 of the Bihar State Financial Corporation Act, 1951, the petitioner made the highest offer. But eventually the unit was sold by BICICO, not to the petitioner, but on the basis of a fourparty agreement to another buyer, namely, M/s Pine Builders Pvt. Ltd. The petitioner seeks a direction from this Court to BICICO to accept its offer and to hand over the unit to it.

(3.) THE parties were heard at length on the merits of the case as also on the amendment petition.