- (1.) LEARNED counsel appearing for the petitioner submits that when a property was put to auction, the petitioner participated in the auction and was found to be the highest bidder and thereby the petitioner deposited a sum of Rs.1,59,000/- by way of Bank Draft. Subsequently, the Bihar State Credit and Investment Corporation Limited took a decision to re-auction it and as per the claim of the respondent-Corporation, the owner of the property came forward and offered to purchase the property for a sum of Rs.80 lakhs but no document to that effect has been annexed in the counter affidavit.
(2.) LEARNED counsel appearing for the Corporation submits that it is true that the petitioner had been the highest bidder in first auction but subsequently, a letter was written by the petitioner to the Corporation intimating therein that the petitioner is no more interested in purchasing the property expressing certain doubts over the title of the land in question and therefore, the Corporation went for second auction, in which original owner offered to pay a sum of Rs.80 lakhs and as against that, a sum of Rs.5 lakh was also deposited but when the possession of the property was not handed over to him, the original owner, namely, M/s. Anubhav Steel Pvt. Ltd. came to this Court and filed a writ application, vide W.P.(C) No.3200 of 2003 wherein prayer was made to direct the Corporation to hand over the possession. This Court vide order dated 10.7.2003 directed the respondents not to take any coercive step against the petitioner provided the petitioner deposits a sum of Rs.60 lacs with BISICO by 12th September, 2003. However, Mr.A.K.Sahani, learned counsel appearing for the petitioner submits that in spite of deposit of part of the bid amount, the respondent- Corporation arbitrarily took the decision to go for another auction and not only that the amount which the Corporation received has also not been returned to the petitioner and as such, the petitioner is at least entitled to interest over the amount deposited with the Corporation.
(3.) AT this stage, Mr. C. Mukherjee, counsel appearing for the Corporation seeks two days' time to seek instruction on the point as to whether the petitioner would be entitled to interest to the amount deposited or not. As prayed for, put up this case on 24.3.2011.;