- (1.) In this matter, the Appellate Court, by its order dated 31st March, 2014 had, inter alia, directed the defendant to file an affidavit giving details of its fixed assets and those which they intended to sell. The Court stipulated that no further asset of the defendant could be disposed of without the leave of the Trial Court. A schedule of assets is at page 73 of the petition. The defendant, by this application, wants leave of this Court to sell a flat at Alipore measuring 3,200 sq. ft. approximately mentioned in the said schedule. Therein, the value of the flat is shown as Rs. 895.36 lakhs. The flat is proposed to be sold for Rs. 4.60 crores.
(2.) When this application was moved on 19th September, 2014, this Court passed an order that the applicant/defendant would be at liberty to enter into negotiations for sale of this flat, take all steps with regard to its sale but they should not conclude it except with the leave of this Court.
(3.) Mr. Saha, learned Senior Advocate appearing for the defendant, submits that the entire principal claim of the plaintiff has been secured by bank guarantee and fixed deposit.;