- (1.) Heard.
(2.) This special leave petition arises out of an order dated 27th August, 2012 passed by the High Court of Gujarat at Ahmedabad whereby O.J. Appeal No.1 of 2008 along with Company Application No.4 of 2008 filed by respondent no.1 herein has been allowed, the petitioner's bid rejected and the sale confirmed in favour of the first respondent for a sum of Rs.2.7 cores.
(3.) It is unnecessary to recapitulate the entire background in which the controversy arises for the same has been set out in our order dated 13th August, 2014. Suffice it to say that we had by the said order noted that the offer of Rs.4,00,00,000/- (Rupees four crores) made by the petitioner-company was substantially higher than the amount of Rs.2.70 crores offered by respondent no.1 earlier before the High Court. We had in that view directed the official liquidator to invite fresh bids for the property in-question with a reserve price of Rupees Four Crores for the same. We are now informed by learned counsel for the parties that a fresh auction notice was issued by the official liquidator, pursuant whereto 11 bids in all were received by him. The petitioner was it appears the highest bidder even in the fresh offer at Rs.4.31 crores for the property in-question.;