CWP No.5860 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CM No.12846 of 2010 in/and CWP No.5860 of 2010 Date of Decision: 13.09.2010 **** M/s. Commando Caterers Pvt. Ltd. . . . . Petitioner VS. The Authorised Officer, OBC & Ors. . . . . . Respondents **** CORAM : HON’BLE MR.JUSTICE SURYA KANT **** 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? **** Present: Mr. Vishal Aggarwal, Advocate for the petitioner Mr. Aalok Jagga, Advocate for respondents No.1 & 2 Mr. Sanjay Kaushal, Advocate for respondent No.3 Mr. Karan Bhardwaj, Advocate for the applicant ***** SURYA KANT J. (ORAL) CM No.12846 of 2010 For the reasons mentioned the application, the same is allowed. The applicant, namely, Gursev Singh r/o H.No.109/3, Chander Nagar, Alam Bagh, Lucknow is ordered to be impleaded as party respondent No.4. CWP No.5860 of 2010.doc - 2 – CM stands disposed of. CWP No.5860 of 2010 (1). In terms of the order dated July 29, 2010, the petitioner has found a buyer who is willing to pay a sum of `2.75 crores as sale consideration for the ‘secured asset’, namely, H.No.1299, Sector 15-B, Chandigarh by entering into a tripartite agreement with the petitioner and the respondent-Bank. (2). Mr. Karan Bhardwaj, learned counsel for the prospective buyer, namely, Gursev Singh r/o H.No.109/3, Chander Nagar, Alam Bagh, Lucknow states that he shall deposit the entire sale consideration with the respondent-Bank within a period of 60 days from the date of entering into the tripartite agreement. He further states that as soon as the agreement is executed, the applicant- prospective buyer shall also deposit a sum of `25 lacs with the respondent-Bank before 30th September, 2010. (3). In this view of the matter, it is directed that on deposit of the above-stated entire sale consideration by the prospective buyer, the title deeds in respect of House No.1299, Sector 15-B, Chandigarh shall be handed over to the said prospective buyer and the CWP No.5860 of 2010.doc - 3 – respondent-Bank shall also issue a ‘No Objection Certificate’ for transfer of ownership of the said house by the petitioner in favour of the above-named prospective buyer. (4). The petitioner shall then be required to execute a sale deed in favour of the said buyer. (5). Once as the payments are made, the petitioner and the respondent-Bank shall adhere to the agreement arrived at between them on 23.06.2010 (Annexure P26). (6). With these directions, the writ petition stands disposed of. (7). Ordered accordingly. (8). Dasti . (SURYA KANT) JUDGE 13.09.2010 vishal shonkar