- (1.) The petitioners have prayed for refund of forfeited amount to the tune of Rs. 14.20 lakhs along with interest at the rate of 18 per cent per annum calculated on and from the date of filing of the instant writ petition. The respondent no. 2 corporation claimed to have forfeited the said amount in connection with sale of fixed assets of Bandel Ceramics Pvt. Ltd. (in short BCPL) situated at Delhi Road, Vill. - Jhata, P.O. - Mogra, P.S. - Polba, District Hooghly in terms of the sale letter dated 22nd December, 2004. The respondent no. 2 corporation established under the State Financial Corporation Act, 1951 (hereinafter referred to as SFA) invited offers for sale of various fixed assets which were purported to be sold in exercise of power under Section 29 of the SFA.
(2.) The brief description of the fixed assets, relevant to the instant case, in the said advertisement read as follows : JUDGEMENT_659_TLCAL0_2012_1.html
(3.) In response to such advertisement, the petitioners gave a quotation on 18th February, 2004 of Rs. 42 lakhs for purchase of the aforesaid fixed assets and also deposited 10% of the offer price as earnest money within 15 days of the submission of such offer. Thereafter, the petitioners submitted a revised offer dated 02.12.2004 for a price of Rs. 43 lakhs.;