- (1.) Heard. The only question that survives in this special appeal is as to whether the appellants are liable to pay interest and penalty to the respondents for not having paid 85% of the bid amount by the dates specified by the respondents. The brief facts are as under : -
(2.) The respondent No. 1 through the respondent No. 2 had advertised that there would be a sale by auction of the property known as Old Motor Garage situated at MI Road, Jaipur. The public auction was held on 8.1.1992 at 11.00 AM. M/s. KK Constructions, the predecessor-in-interest of the appellant No. 1, was the highest bidder. According to the terms of the auction the highest bidder was to deposit 5% of the bid amount at the spot, 10% of the bid amount within 72 hours and remaining 85% of the bid amount within 30 days of the confirmation of the bid. The property sold by auction was shown in the site plan attached in the book-let issued by the respondent No. 1. The appellant's predecessor deposited 5% of the bid amount at the spot and 10% within the specified time, but the remaining 85% of the bid amount was not deposited within the specified period and dispute arose between the parties. The appellant No. 1 having taken over its predecessor raised objection that at the spot the property was having a temple and it was entitled to have possession of the property and its plot in accordance with the site plan and further that No Objection Certificate from the competent authority under the Urban Land (Ceiling & Regulation) Act, 1976 had not been obtained by the respondent. The respondents, therefore, threatened to forfeit the money already deposited by the appellants, who approached this court by filing a writ petition which was registered as S.B. Civil Writ Petition No. 2841/92. The said writ petition was heard and decided by a learned Single Judge of this court, who, vide the impugned order dated 3.7.1992, dismissed it. Hence this special appeal.
(3.) During the pendency of the appeal the parties sought time for negotiation and it is stated at the Bar that the parties have settled their disputes and the terms of agreement are recorded in the minutes of meeting dated 30.1.1993 (Annexure-C-1) held in the chamber of Jaipur Development Commissioner, the photo copy of which has been produced on record.;