SANJIB BANERJEE,J. - (1.) The previous offer received for the land, building and plant and machinery of the company in liquidation was of Rs. 31 lakh. The offerer is in court and does not wish to pursue the matter.
(2.) West Bengal Financial Corporation, the only secured creditor of the company in liquidation, has carried an offer made by one Deepak Rungta by a letter dated December 16, 2011, offering Rs. 41 lakh for the property. A banker's cheque for Rs. 8.2 lakh favouring the Official Liquidator has been forwarded along with the offer.
(3.) Though the valuation appears to be to the tune of Rs. 60 lakh, since two sets of advertisements have already been published and no other offer is available and since WBFC recommends that the Court accept the offer for Rs. 41 lakh, the sale of the land, building and plant and machinery of the company in liquidation covered by the sale notice is confirmed in favour of Deepak Rungta, subject to the purchaser paying the entire consideration within a period of a fortnight from date. The cheque for Rs. 8.2 lakh has been made over to the Official Liquidator today and the Official Liquidator will encash the same. In the event the balance payment is not made by the purchaser in favour of the Official Liquidator within the time permitted, the sale will stand cancelled and the Official Liquidator will forfeit the earnest deposit of Rs. 8.2 lakh tendered today.;