IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.5747 of 2005 M/S AMBUJA ELECTROCASTING LTD., HAVING IT’S FACTORY LOCATED AT NASARIGANJ, P.O.- BATAGANJ, P.S.- DANAPUR, DISTRICT- PATNA, THROUGH ARVIND SHRIVASTAVA, SON OF RAJENDRA PRAKASH SHRIVASTAVA RESIDENT OF NASRIGANJ, P.O. BATAGANJ, P.S. DANAPUR, DISTRICT-PATNA. ……..PETITIONER. Versus 1. BIHAR STATE CREDIT & INVESTMENT CORPORATION LTD. INDIA BHAWAN(4TH FLOOR), RAM CHARITRA SINGH PATH, PATNA, THROUGH ITS MANAGING DIRECTRO BIHAR STATE CREDIT AND INVESTMENT CORPORATION LTD. PATNA. 2. SRI DEEPAK KUMAR, SON OF NOT KNOWN, R/O NASRIGANJ, P.O.- BATAGANJ, P.S- DANAPUR, DISTRICT-PATNA. …..RESPONDENTS. For the Petitioner : Mr. Arbind Kumar Jha, Advocate. For the Respondent : Mr. Mayank Shekhar, Advocate. ----------- 03. 02.05.2011 Heard learned counsel for the petitioner and learned counsel for the Bihar State Credit and Investment Corporation Ltd. Patna (hereinafter referred to as the BICICO for the sake of brevity). 2. This writ petition has been field by the petitioner for restraining the Board of Directors of the BICICO from giving final approval to any sale in favour of respondent no. 2 on the ground that the mortgaged property of the petitioner was sold away for a very small amount of Rs. 34.5 lacs and also for quashing sale order dated 10.02.2005 issued in favour of respondent no.2 on the ground that the BICICO acted unreasonably and in violation of the statute and for other ancillary reliefs. 3. Leaner counsel for the petitioner has produces order dated 23.06.2008 by which another Bench of this Court has dismissed C.W.J.C. No. 3108 of 2007, which was filed by 2 respondent no. 2 for directing respondent no. 1 to produce its resolution dated 12.12.2006 of the Board of Directors of BICICO for fresh valuation of the assets of M/S. Ambuja Electrocastings Pvt. Ltd. (petitioner) and to re-advertise the unit for sale and then issue a writ of certiorari for quashing the said resolution dated 12.12.2006. The said writ petition was dismissed with a direction to Shri Deepak Kumar to hand over the assets of the M/S. Ambuja Electrocastings Pvt. Ltd. back to the BICICO within six weeks from today and the authorities of the BICICO were directed to take over possession of the same after preparing a proper inventory and within six weeks thereafter refund the entire amount deposited by the petitioner subject to making adjustments for any shortage being found on the making of such inventory of the assets of the unit. 4. In the aforesaid circumstances this writ petition is disposed of in terms of the aforesaid order of this Court. However this order will also remain stayed till the result of L.P.A. No. 555 of 2008 which has been filed by Deepak Kumar ( respondent no.2) against the aforesaid order passed in C.W.J.C. No. 3108 of 2007 and is pending in this High Court. Devendra/ (S. N. Hussain, J.)