1 pps IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Notice of Motion No. 96 of 2010 . in Suit No. 3573 of 2006 State Bank of India .. Plaintiffs v/s. Anand Omkarnath Pandey & Anr. ..Defendants Ms.Hina A. Mody for the Plaintiffs. Mr.Santosh Narwade for the Defendant No.3 Mr.G.G.Ketkar, 1st Asst. to Court Receiver present. CORAM : R.Y.GANOO, J. DATED : 6th July, 2010 P.C. : 1. Mr.Narvade states that he has returned his papers to his client, namely defendant No.3. Heard learned Advocate Mr. Modi. On the last occasion the Office of the Court Receiver was directed to produce the papers regarding the reserve price and the photographs showing the condition of the car . The Office of the Receiver, had on the basis of the condition of the car fixed the reserve bid at Rs. 190,000/-. That was on 15.9.2009. I have perused the photographs 2 and looking to the fact that the reserve bid was fixed in September 2009, at Rs.1,90,000/- the reserve bid could be brought down on account of lapse of time and it can be fixed to Rs.1,50,000/-. The plaintiffs wants that the car be sold by private treaty. According to the plaintiffs no customers are prepared to come and purchase the car in public auction. Looking to the condition of the car, I am inclined to observe that if the car is sold at the sum of Rs.1,50,000/- it would be in the interest of the plaintiffs. Accordingly, the reserve bid is brought down to Rs.1,50,000/- and permission is given to the Receiver to sell the car by private treaty for an amount of Rs. 1,50,000/- or more. 2. It is pertinent to note that the persons concerned with this car are not coming forward to oppose this motion, though they are duly served. In view of this, following order is passed so as to dispose of the notice of motion. ORDER i) The Receiver is permitted to sell the suit car by private treaty for an amount of Rs.1,50,000/- or more. If the car gets sold accordingly, the the sale proceeds shall be deposited by the Receiver 3 in a Nationalised bank initially for a period of one year and continue to renew the same for the like period till further orders. ii) Notice of Motion is disposed of in above terms with no orders as to costs. iv) After the above said order is passed, learned Counsel for the plaintiffs prays liberty to apply for getting the monies from the Receivers Account. Liberty is granted. [R.Y.GANOO, J.]