IN THE HIGH COURT OF JUDICATURE AT PATNA Comp.App.(DB) No.10 of 2007 Gopal Krishna Gupta, S/o Late Bal Krishna Gupta, Resident of Krishna Kutir, Mungeriganj, P.O., P.S.: & Town & District-Begusarai Intervenor/ Appellant Versus 1. M/sBarauni Paper Industries Pvt. Ltd. in Liquidation through the Official Liquidator, Patna High Court, Patna. 2. M/s Ram Prakash Shyam Kumar, Partnership firm through Shyam Kumar S/0 Etwari Prasad Gupta, At Singhaul Pokhar, P.O.Uloa, P.S.Mufassil District-Begusarai .. respondents/ respondents ----------- For the appellant : Mr.S.D.Sanjay, Advocate For the respondent : Official Liquidator ------- P R E S E N T Hon'ble the Chief Justice & Hon'ble Mr. Justice Kishore K. Mandal ------ Dated, the 29th September, 2008 We heard Mr.S.D.Sanjay, counsel for the appellant. 2. The only grievance raised by the counsel for the appellant is that sufficient time was not given to the appellant to revise the offer. 3. We are afraid the contention does not deserve to be accepted. The Company Judge considered the matter thus: “When the Court was about to settle the sale of the assets of the Company in liquidation in favour of M/s Gopal Krishna Gupta, another offer in a sealed cover was received from M/s Ram Prakash Shyam Kumar, which was opened and therefrom it appears that for the entire assets of the company in liquidation, M/s Ram Prakash Shyam Kumar has offered Rs.61,41,498/- and submitted demand drafts of Rs.15,00,000/- (fifteen lacs) as security money, which are handed over to the - 2 - Official Liquidator. In view of the two offers, both M/s Gopal Krishna Gupta and M/s Ram Prakash Shyam Kumar were given opportunity to revise their offer and after revision, M/s Ram Prakash Shyam Kumar has made a final offer of Rs.1,05,00,000/- (Rs. One crore five lacs only) and M/s Gopal Krishna Gupta has made his final offer at Rs.1,03,50,000/- (Rs. One crore three lacs and fifty thousand only). Accordingly, the sale is finalized in favour of the highest offerer, M/s Ram Prakash Shyam Kumar. Let the highest offerer deposit the balance amount of Rs.90,00,000/- (Rs.ninety lacs) with Official Liquidator in as many instalments as they want, but within 60 days from today in terms of the stipulations made in the sale notice, failing which the security deposit shall be forfeited. M/s Ram Prakash Shyam Kumar in whose favour sale is finalized, is permitted to maintain its own security at the premises of the company in liquidation besides the security provided there by the Official Liquidator. Security deposit of Sri Lal Babu Prasad be returned to him forthwith.” 4. The consideration of the matter by the Company Judge does not suffer from any legal infirmity. The Company appeal does not deserve to be admitted. It is dismissed in limine. R. M. Lodha, CJ Kishore K. Mandal, J. Sunil