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| Auction of Gopal Bhawan Kacchi chowni | | DB gives free hand to receiver | |
JAMMU, JUNE 04- Division Bench of Jammu and Kashmir High Court, Jammu wing, comprising Justice Virender Singh and Justice YP Nargotra, in a much publicized Gopal Arya Finance Company case, has given free hand to Court receiver to receive any fresh bids, made by any person interested for offering more price than already offered.
This order was passed on a report submitted by the Court receiver in response to the auction notice regarding the sale of Gopal Bhawan Kacchi Chowni, a commercial building for which two bids were received with the highest bid for Rs 1.23 crore. One of the bidders Akhil Mahajan, the lowest bidder filed CMP seeking permission to enhance his bid to Rs 1.40 crore from his earlier bid of Rs 1.01 crore.
The Division Bench observed that since the auction bid of any of the bidders are yet to be approved, therefore, it would be appropriate to issue notice to other bidders and directed Registry to issue notice to other bidders for personally appearing on the next date of hearing. The Court receiver shall be free to receive any other fresh bids which may be made by an person interested for offering more price than the already offered, DB ordered.
It is worth while to mention here that people who deposited their money with the Gopal Arya Finance Company (Chit Fund Company) had filed various CMPs in the Court for their money. One Sunil Koul filed a petition which was treated as Public Interest Litigation in which the High Court passed various orders for making payments to the depositors.
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