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DB directs receiver for auction of property of Dutta Finance Co Rs 50 crores swindling case: 9/13/2014 10:44:18 PM Early Times Report Jammu, Sept 13 : In a much publicized Public Interest Litigation regarding cheating of peoples to the tune of Rs 50 crores by Dutta Finance Pvt Ltd and ors, a Division Bench (DB) of State High Court comprising Justice Hasnain Massodi and Justice Tashi Rabstan has appointed Harbans Lal former District & Sessions Judge as Receiver of property belonging Finance Company and directed him for auction of property of finance company in accordance with rules.While issuing direction for auction of the property after hearing Sr. Adv SS Lehar with Adv Meharban Singh for the petitioners whereas Sr. Adv KS Johal with Adv Arash K Johal, Sr Adv PN Raina with Adv JA Hamal for the respondents, the Division Bench directed receiver to take over the properties, prepare an inventory of the such property and take steps for their auction in accordance with rules and after giving due publicity to the proposed auction so that properties fetch amount reflecting their true market value. Division Bench further said that an offer received shall accepted only after approval of Division Bench and Receiver shall free to seek assistance of authorities concerned including police concerned to take over the properties of finance company. Division Bench, however, further observed that as regard the properties mentioned in two applications in which three properties and one house at Gandhi Nagar, the order shall be passed after the parties are heard in the matter. JNF   Share This News with Your Friends on Social Network     Comment on this Story

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