:1: :1: :1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. O.O.C.J. O.O.C.J. COMPANY APPLN (L) NO.399 OF 2005 IN CO. PETITION NO. 17 OF 1992 M/s. Chaudhary Machine Tools ....Applicants vs. The Official Liquidator of M/s. Nirfabrics Ltd (in liqn.) and Anr. ....Respondents A. Ramakrishna for the applicants. S.C. Gupta,O.L. present. CORAM: S.U. KAMDAR, J. DATE : 19TH APRIL, 2005. P.C. : P.C. : P.C. : 1. By my order dated 30.3.2005 I had confirmed the offer of Rs.16,00,000/-. However thereafter the present application has been taken out being 399 of 2005 by one M/s. Chaudhari Machine Tools in which he has made an offer of Rs.19,00,000/- The applicant has thereafter enhanced an offer to Rs.25,00,000/- and has deposited a sum of Rs.5,00,000/- by D.D. dated :2: :2: :2: 8.4.2005. Liquid Air India. had offered an offer of Rs.16,00,000/-which was initially accepted but in view of the enhanced offer the same will have to be rejected. Sale in their favour is not complete. I directed the Official Liquidator to issue fresh notice to all offerers which has been done by the Official Liquidator. None are offering better offer then Rs.25,00,000/-. In view of the aforesaid I accept the offer of M/s. Chaudhari Machine Tools for sum of Rs.25,00,000/- The balance of Rs.20,00,000/- to be deposited by D.D. on or before 25.4.2005. The sale in favour of the applicant M/s. Chaudhari Machine Tools is confirmed. The official liquidator is directed to execute necessary sale documents in the favour of the said M/s. Chaudhari Machine Tools on receipt of the entire balance amount of Rs.20,00,000/-. It is made clear that if there is any default in making payment of Rs.20,00,000/- on or before 20.4.2005. The said sale will be treated as cancelled and Rs.5,00,000/- deposited as earnest money stands forfeited. The liquidator shall execute necessary sale documents either in the name of the applicant or in favour of any of the nominee/or :3: :3: :3: nominees of the applicant. The delivery of the said movable will be taken by the applicant on or before 15.5.2005. sd/- ***********