ASHA GAUTAM Vs. IFCI

JUDGEMENT

(1.) BOTH these appeals have been directed against the judgment and order dated 6.4.2011 passed by the Presiding Officer of DRT -I, Delhi in Appeal No. 15/2009, whereby the orders dated 3.6.2009 and 10.7.2009 of the Recovery Officer (R.O.) passed in RC No. 43/2006, have been set aside and the RO has been directed to resell the properties after obtaining fresh valuation report from the CH -FI and to return the monies deposited by the appellants herein. The facts giving rise to these appeals, in brief, are that in the proceedings in respect of RC No. 43/2006, issued in O.A. No. 148/2002, the RO had ordered for the sale of the movable and immovable properties, namely, the microwave tower and the land situated at Khair Bypass Road. Aligarh (UP) and sale notices were published in the newspapers inviting sealed tenders by 8.4.2009, which were to be opened on 9.4.2009. The appellants of both the appeals submitted their sealed tenders. Only three tenders were received, which were opened on 9.4.2009 by the Sale Committee, appointed by the RO. The bid offered by Smt. Asha Gautam, the appellant of Appeal No. 227/2011, was found to be the highest, but the Sale Committee deferred the confirmation of sale to 17.4.2009 and then to 23.4.2009. On 23.4.2009, the Sale Committee instead of finalizing the bid, directed for the open auction of the said properties. The auction was conducted by the Sale Committee on that very date at the office of the CH -FI wherein seven persons, including the appellants of both the appeals, participated. The bid of Smt. Asha Gautam for Rs. 56.50 lacs was again found to be the highest whereas the bid of Mr. Sachin Jain for Rs. 50.25 lacs was the fifth at the final round of the auction and as such the sale was confirmed in favour of the highest bidder.

(2.) MR . Sachin Jain filed objections before the RO taking the plea, inter alia, that the terms and conditions of the auction were not properly told by the Sale Committee and he could not fully understand the terms of sale due to loud noise and chaos at the auction site and he was under the impression that the auction was being held for the land only and offered to purchase the properties in question in Rs. 57.50 lacs. The RO, vide order dated 3.6.2009, directed him to deposit the entire offered amount within 15 days which was deposited by him. The RO, thereafter, vide order dated 10.7.2009, directed both the objector and the highest bidder to participate in the inter se bidding before the Sale Committee at the office of the CH -FI on 17.7.2009.

(3.) I have heard Mr. Tarun Kashyap, the learned Counsel appearing for the appellants of Appeal No. 227/2011, Mr. Cyan Prakash, the learned Counsel for the appellant of Appeal No. 317/2011 and Mr. P.R. Singh for the respondent FCI, the CH -FI.