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| Gopal Arya Mission Scam | | Invite offers from Banks: HC | | Early Times Reporter
Jammu | Dec 26
A Division Bench of Jammu and Kashmir High Court has passed directions for inviting offers from the banks for sale of properties of the infamous Gopal Arya Mission.
The Division Bench comprising Acting Chief Justice Nisar Ahmed Kakru and Justice Hakim Imtiyaz Hussain declined to settle auction at throw away price as offered in auction of two properties. One property is reported to be worth Rs 1.40 crores and other 9.50 lakhs which according to the Receiver is on much lower side. Same is the view of the counsel for the company.
The DB said that to make it very clear that there is no question to settle the auction at throw away price and is of the opinion that it would be appropriate to invite the offers from the banks to purchase the property. Accordingly directed Receiver to take the requisite steps forthwith the counsel for the company is also permitted to invite the buyers at his own level as prayed for and the Receiver in that eventuality shall permit them access to the property identified for sale.
DB further observed that the beneficiaries of the direction passed by this Court on November 20, 2006 seek the indulgence of the DB for release of further amounts. Responding to the submissions stated by receiver that a scheme has already been formulated by him which has received concurrence by the Court, the DB further directed Receiver to make the recommendations accordingly and directed to list case in the second working week after vacations. |
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