ASHA JHA Vs. STATE OF JHARKHAND AND ORS.

JUDGEMENT

(1.) Challenging order dated 22.10.2013 passed by the Managing Director, Bihar State Financial Corporation, the present writ petition has been filed. The petitioner claims herself a partner in M/s. Hempic KVR Metals, of which one Smt. Sarbjit Kaur was also a partner. A partnership agreement between the said Sarbjit Kaur and the petitioner was executed on 5.10.1999. Vide reference letter dated 4.9.1999 the respondent -AIADA recognised the change in the name of the purchaser namely, M/s. Hempic KVR Metals. It is stated that a dispute arose between the partners and accordingly, the petitioner filed petition under Sec. 9 of the Arbitration and Conciliation Act, 1996 which was registered as Misc. Case No. 2 of 2001. The petitioner also lodged a criminal case being Adityapur P.S. Case No. 78 of 2001 on 31.3.2001.

(2.) The learned counsel for the petitioner submits that, in Misc. Case No. 2 of 2001 an order was passed on 5.9.2001 restraining respondent No. 5 and a direction was issued to the Adityapur Police to ensure the entry of the petitioner in the factory premises. Referring to decision of the Hon'ble Supreme Court in "Kerala Financial Corporation vs. Vincent Paul and Another", : (2011) 4 SCC 171 [: 2011 (2) JLJR (SC) 129], the learned counsel for the petitioner submits that, till the Bihar State Financial Corporation frames Rules, the property of the partnership firm could not have been put in auction.

(3.) Per contra, the learned counsel for the respondent -Bihar State Financial Corporation submits that, the respondent B.S.F.C. has its own guidelines for auction. It is stated that the assets of M/s. Hempic KVR Metals was put on auction to realize the outstanding dues of the Bihar State Financial Corporation.