- 1 - IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION COURT COURT COURT RECEIVER REPORT NO.417 OF 2008 RECEIVER REPORT NO.417 OF 2008 RECEIVER REPORT NO.417 OF 2008 ARBITRATION ARBITRATION ARBITRATION PETITION NO.50 OF 2007 PETITION NO.50 OF 2007 PETITION NO.50 OF 2007 Jayabharat Credit Ltd. ...Petitioner vs. Baldev Khanna & another ...Respondents Mr.Dilip Rai i/b R.N.Rai for the petitioner None for the defendants Shri K.L.Vyas, Court Receiver CORAM CORAM CORAM: A.S.OKA,J. A.S.OKA,J. A.S.OKA,J. DATE DATE DATE : DECEMBER 4,2008 : DECEMBER 4,2008 : DECEMBER 4,2008 P.C.: P.C.: P.C.: 1. Heard the learned counsel for the petitioner. Perused the report. In terms of the order dated 20th August 2008, the Advocate for the petitioner forwarded an offer to office of the Receiver by which one Mrs.K.K.Moorthy offered to purchase the vehicle in question for the amount of Rs.1,10,000/-. The earnest money of Rs.50,000/- has been deposited by a pay order. 2. My attention has been invited to the order passed by this court on 9th June 2008 on Receiver’s Report No.168 of 2008 by which the reserve price of the vehicle was fixed by this court at Rs. 1,10,000/-. The order dated 20th August 2008 passed by this court discloses that only one offer was received by the Court Receiver in the sum of Rs.53,100/-. That is the reason why this court passed an order dated 20th August 2008 permitting the sale of the vehicle by private offers procured - 2 - by the parties. 3. Considering the aforesaid aspects, the offer of Mrs.Krishna K. Moorthy deserves to be accepted provided the balance amount of Rs.60,000/- is deposited by her within a period of two weeks from today. 4. Hence, the Court Receiver report is disposed of by passing the following order : i) The direction in terms of prayer clause (a) is granted subject to condition that Mrs.Krishna K. Moorthy shall deposit the balance price of Rs.60,000/- within a period of two weeks from today. ii) In the event the purchaser fails to pay the balance price within a period of two weeks from today, the Court Receiver will submit a further report seeking appropriate directions. iii) Prayer clause (c) of the Report is allowed. iv) The petitioner is directed to communicate this order to the bidder. - 3 - JUDGE JUDGE JUDGE