STATE BANK OF INDORE Vs. PRASHANT

JUDGEMENT

(1.) There are two misc. applications no.13972/13-7-2010 & 13973/13-7-2010.

(2.) Initially this Court after hearing counsel for the parties by a detailed order dt.15.4.2010 modified the earlier order passed on 24.7.09 and granted permission to the appellant-bank to dispose of the secured assets which are in its possession by adopting the procedure provided under law. Against the order dt.15.4.2010, a Special Leave to Appeal was preferred by respondent but the same was dismissed vide order dt.14.5.2010. After modification vide order dt.15.4.2010, a public notice for sale of immovable properties by bid/auction in regard to properties situated at Kota and Daman were separately published and widely circulated. At this stage, another application was filed by respondent seeking certain clarifications that they had apprehensions that the appellant-bank will not follow the procedure provided under Rules,2002. However, after hearing counsel for the parties, the said application was also rejected by a detailed order on 27.5.2010.

(3.) By misc. application no.13972/13-7-2010 filed by the respondent, it has been prayed that complete records of the bid held on 4.6.2010 at Kota Branch in regard to the property situated at Kota may be summoned and the affairs of the bid held on 4.6.2010 be investigated by independent authority. At the same time, it has also been prayed that the appellant-bank should be restrained not to sell the property situated at Kota for a price lesser than Rs.7.81 crores.