RAMESH KUMAR MERATHIA, J. - (1.) HEARD counsel for the parties.
(2.) THESE two connected writ petitions are being disposed of by this common order. Amit Ambar Kachhap Versus Union Of India Petitioner filed one of the writ petitions being W.P. (C) No. 4386 of 2002 against the demand of the dues raised by the respondent Bihar State Financial Corporation (hereinafter to be referred to as "the B.S.F.C") and the auction sale of the unit to respondent No. 5 therein. By order dated 9.8.2002, notice was issued to the said respondent No. 5 at the admission stage and following interim order was passed: In the meantime, if the petitioner deposits a sum of Rs. 15, 00,000.00 (Rupees Fifteen Lakhs) by 6th September, 2002, respondents Bihar State Financial Corporation will not enter into any agreement with respondent No. 5.
(3.) THE said auction purchaser (respondent No. 5) backed out from the auction purchase. The B.S.F.C. refused to refund the earnest money till a final decision is taken in W.P. (C) No. 4386 of 2002. The auction purchaser filed a writ petition being W.P. (C) No. 6923 of 2002, which was disposed of by order dated 24.2.2003. The relevant portion reads as under: ...It appears that the mortgaged properties of M/S. Bokaro Roller Flour Mill was put on auction by the B.S.F.C. The petitioner took part in auction sale of the mortgaged/hypothecated assets of M/S. Bokaro Roller Flour Mill. The petitioner deposited the auction money wherein after the sale order was issued on 19th July, 2002. However, in pursuance of order passed by this Court in the writ petition as was preferred by the original promoter, the sale was not materialised with petitioner, the petitioner declined to purchase the unit and requested to refund the earnest money. The petitioner while prayed for direction on the respondents to refund the earnest money has also prayed for direction to pay him interest @ 16% on such amount. The counsel for the B.S.F.C. fairly conceded that the petitioner is entitled to get back the earnest money. However, he referred Clause (6) of the sale order dated 19th July, 2002 wherein it is stipulated that if payment from original promoter (s) is received and accepted by the Corporation in terms of the said sale order, payment made by the petitioner, if any, will be refunded without any interest thereon. Having heard counsel for the parties, which I direct the respondents to refund the petitioner the earnest money within fifteen days from the date of receipt/production of a copy of this order, no order is passed for payment of interest in view of Clause (6) of the sale order dated 19th July, 2002.... ;