1 PGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Notice of Motion No.819 of 2010 IN Suit No.922 of 1991 Bank of India .. .. Plaintiff v/s. West End Laboratories Pvt.Ltd. .. Defendants A n d Sukhmani Co-operative Society .. Intervenor Mr.O.A. Das for Plff. Mr.Hemang Jariwala i/by Auroma Law for Applicant. ---- CORAM : SMT.ROSHAN DALVI, J. DATED : 13th April, 2010 P.C. : 1.Consequent upon the order passed by my brother Vazifdar , J. on 20.9.2007, the Co-operative Housing Society where the mortgaged flat of the Defendants is situate, has applied for directions to conduct a fresh auction sale and to proceed thereupon. The Society has obtained the recovery certificate. The claim of the Society is Rs.9.9 Lakhs. The Plaintiff has conducted an earlier auction. The bids that were received were less than the reserve price. The reserve price was Rs. 23 Lakhs. The Plaintiff did not propose to incur further expense for the fresh auction sale. Hence the Co-operative Society has applied for the above directions. 2 2.If the Co-operative Society undertakes the expenses of the fresh auction sale, both parties may be able to have their debts realised. Hence the Plaintiff s Advocate fairly concedes to this offer. Hence the following order:- ORDER The intervenor-Society being Sukhmani Co-operative Society shall have a fresh auction conducted by the Court Receiver entirely at the expenses of the Society. The fresh valuation shall be obtained by the Court Receiver for this purpose. It is accepted by both the parties that the property prices have risen much after the initial auction. Hence the reserve price shall be fixed accordingly. If the auction goes through, the Society shall be paid off its claim of Rs.9.9 Lakhs plus expenses incurred by the Court Receiver from the auction sale. Thereafter the Plaintiff shall be paid the expenses incurred by the Court Receiver for the first auction sale. The remainder of the amount shall be deposited in Fixed Deposit Receipt with the Plaintiff-Bank pending the Suit. 3.The Advocate for Defendant Nos.1, 3 and 6 is already discharged. Hence his name shall not be brought on board. 4.The Notice of Motion is disposed of accordingly. (SMT.ROSHAN DALVI, J.) 3