PINE BUILDERS PRIVATE LIMITED Vs. BIHAR STATE CREDIT

JUDGEMENT

(1.) In the present writ application, the petitioners have invoked the extraordinary jurisdiction of this Court, seeking a writ of certiorari by which a challenge has been placed to the letter dated 10.06.2011,vide Ref. No.Recov/U/77/81-88/278, (Annexure 8), issued by the Managing Director of the respondentCorporation to the Director of M/s Pine Builders Private Limited, communicating the decision of the Board of Directors of the Bihar State Credit and Investment Corporation Limited, to hand over the assets of M/s Neeraj Newspapers Associates Private Limited to BICICO, so as to make the same available for its auction through advertisement.

(2.) A brief sketch of the facts giving rise to the present application can be detailed hereunder as follows:

(3.) Challenging the order dated 10.06.2011 (Annexure 8), learned Senior Counsel appearing for the petitioners contended that from a very perusal of the reasons stated in the same, there is no indication that the four party agreement was based on any fraud practised by the petitioners. Further, it was submitted that the respondents can thus be called upon to justify the impugned order only on the basis of the reasoning assigned in the impugned order itself and they cannot take support of any material, which may be brought on the record by way of counter affidavit or even that which has been contended orally. Thus, the contention of the respondents that the petitioners had practised fraud on the respondents in executing the four party agreement is wholly untenable and cannot be sustained in any Court of Law. In support of their contentions, learned counsel appearing on behalf of the petitioners has placed reliance on the ratio laid down by the Hon'ble Supreme Court in the case of Mohinder Singh Gill and another v. The Chief Election Commissioner, New Delhi and others, 1978 AIR(SC) 851 (paragraph 8):