- (1.) The reports of the Chairman of the Assets Sales Committee dated November 9, 2019 and November 23, 2019 are taken on record. The following directions are passed with regard to the recommendations made by the Chairman of the Assets Sales Committee in the above reports with regard to the sale of properties of Sanchayani Savings & Investment (I) Ltd. (SSIL): (I) The three properties, namely, (i) Flat no. 302 at Trimurti Nagar, Nagpur, Maharashtra; (ii) Godown in basement floor at Trimurti Nagar, Nagpur, Maharashtra; and (iii) Flat/shops no.62, 63, 64A and 64B in second floor, Indraprastha Complex, Shastri Circle Marg, Udaipur, Rajasthan described in the report dated November 9, 2019 under item no.2 be re-advertised for sale and advertisements be published in two local newspapers (one in English and one in the regional language) specifying the Distress Value as the Reserve Price which has been determined by the valuer for each of the said properties. (II) Item No.3 in the report dated November 9, 2019 relates to the property at Block 75, Gulab Bhawan, Jodhpur, Rajasthan, in respect whereof a bid was submitted by one Mr. Devendra Mehta in response to the sale notice issued by the special officers. The said intending purchaser for this property sent a demand draft for Rs.1,04,000/- dated October 29, 2018 to the special officers as earnest money deposit. On opening the bid by the Chairman of the Assets Sales Committee on February 4, 2019, it was found that the demand draft had lapsed. As per the recommendation of the Chairman of Assets Sales Committee made on February 4, 2019, the intending purchaser was informed to revalidate the demand draft but the intending purchaser has requested the special officers to return the said draft as he does not want to proceed further with the deal and the demand draft was not revalidated by him. The property be readvertised for sale by the special officers on the same terms as contained in the earlier advertisement and advertisements be issued in two leading newspapers, one in English and the other in the regional language, specifying a Reserve Price, being the market value already determined for the said property. (III) The four properties, namely, (i) Flat no.13 (in third floor) at Madhu Manjari Apartment, Bhakti Marg, Pune, Maharashtra; (ii) Shop no. 1 to 6 and 13 to 18 at first floor, Damani Shopping Complex, Solapur, Maharashtra; (iii) Office premises on second floor, Cotton Market Road, Amaravati, Maharashtra; and (iv) Office premises on third floor, Old Cotton Market Road, Amaravati, Maharashtra as described in the report of the Chairman of the Assets Sales Committee dated November 9, 2019 under item no.4 be advertised for sale. Such advertisements be issued in two local newspapers (one in English and one in the regional language) specifying a Reserve Price being the market value of each property which has been determined by the valuer. (IV) As per item no.1 of the report dated November 23, 2019 of the Chairman of the Assets Sales Committee, 36 vacant flats situated at Sanchayani Prestige Complex, Sawalambinagar, Nagpur, be advertised for sale. Such advertisements be issued in two local newspapers (one in English and one in the regional language) specifying a Reserve Price being the market value of each property which has been determined by the valuer.
(2.) As far as the application made by the Belapur Sun City Cooperative Housing Society Limited is concerned, the special officers will verify the particulars as furnished in the relevant application, including the details of payment, the agreements and letters of possession and will prepare a report as to the persons in whose favour conveyance may be immediately effected.
(3.) It is recorded that the special officers insist that the joint developer for the project Citi Builders and Developers should join in as a party to the deeds of conveyance. The relevant cooperative society says that it has persuaded the joint developer to accede to such request as the joint developer does not have any reservation in such regard.;