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 CHAMBER CHAMBER CHAMBER SUMMONS NO. 477 OF 2006 SUMMONS NO. 477 OF 2006 SUMMONS NO. 477 OF 2006 IN IN IN E.A.NO.325 E.A.NO.325 E.A.NO.325 OF 2003 OF 2003 OF 2003 IN IN IN SUIT SUIT SUIT NO.4190 OF 1998 NO.4190 OF 1998 NO.4190 OF 1998 Suresh Suresh Suresh Gianchand Kumar .... Gianchand Kumar .... Gianchand Kumar .... Plaintiff Plaintiff Plaintiff vs vs vs M/s M/s M/s Nitul Textiles & ors.. Nitul Textiles & ors.. Nitul Textiles & ors.. Defendants Defendants Defendants & Bank Bank Bank of Baroda of Baroda of Baroda ..Claimant ..Claimant ..Claimant Mr.Sanjeev Mr.Sanjeev Mr.Sanjeev Kanchan for Plaintiff Kanchan for Plaintiff Kanchan for Plaintiff Mr.Kirit Mr.Kirit Mr.Kirit Kumar for Applicant Kumar for Applicant Kumar for Applicant Mr.G.T.Meshtha Mr.G.T.Meshtha Mr.G.T.Meshtha Commissioner for Taking A/cs Commissioner for Taking A/cs Commissioner for Taking A/cs present present present Mr.Arun Mr.Arun Mr.Arun Seth, Auction Purchaser present Seth, Auction Purchaser present Seth, Auction Purchaser present CORAM CORAM CORAM : : : SMT R.S.DALVI, J SMT R.S.DALVI, J SMT R.S.DALVI, J DATE DATE DATE : 22nd January, 2007 : 22nd January, 2007 : 22nd January, 2007 P.C. P.C. P.C. 1. 1. 1. The auction purchaser has given a bid of The auction purchaser has given a bid of The auction purchaser has given a bid of Rs.8.11 Rs.8.11 Rs.8.11 lacs. That is far below the reserve price. lacs. That is far below the reserve price. lacs. That is far below the reserve price. His His His offer has been rejected. He has increased his offer has been rejected. He has increased his offer has been rejected. He has increased his offer offer offer by Rs.1.25 lacs. Even then the offer is by Rs.1.25 lacs. Even then the offer is by Rs.1.25 lacs. Even then the offer is below below below the reserve price. Advocate for plaintiff the reserve price. Advocate for plaintiff the reserve price. Advocate for plaintiff urges urges urges the Court to accept it though it is below the the Court to accept it though it is below the the Court to accept it though it is below the reserve reserve reserve price. Advocate for Claimant urges the price. Advocate for Claimant urges the price. Advocate for Claimant urges the court court court to reject it. At present, the offer is to reject it. At present, the offer is to reject it. At present, the offer is rejected. rejected. rejected. The claimants shall give further The claimants shall give further The claimants shall give further 2 advertisements advertisements advertisements for obtaining any higher offer if so for obtaining any higher offer if so for obtaining any higher offer if so desired. desired. desired. The Commissioner for taking A/cs shall The Commissioner for taking A/cs shall The Commissioner for taking A/cs shall give give give further advertisement at the cost of further advertisement at the cost of further advertisement at the cost of claimants. claimants. claimants. 2. 2. 2. Chamber Summons disposed of. Chamber Summons disposed of. Chamber Summons disposed of. (Smt (Smt (Smt R.S.Dalvi,J) R.S.Dalvi,J) R.S.Dalvi,J)