1. Heard Sri Pranjal Mehrotra, learned counsel for the Official Liquidator.
2. Pursuant to the order dated 2nd July, 2014 passed by this Court, the Official Liquidator has submitted OL Report (Judl) No.219 of 2014 dated 6th August, 2014. Paragraph 3 to 6 of the aforesaid report refers to various correspondence made by the Official Liquidator with the District Magistrate and other concerned authorities in compliance to the order of this Court dated 2nd July, 2014 so as to get the views / report of the District Magistrate and the concerned authorities with regard to Khasra Plot No. 11 and 12 of the company in liquidation situate at village Purejaita, Pargana-Hisarpur, Tehsil Kesarganj, District Bahraich. It is mentioned in paragraph 7 of the O.L. report that the letter of District Magistrate, dated 2nd August, 2014 along with valuation report dated 1st August, 2014 of the AIG Registration, Bahraich was received in which as per circle rate, the AIG registration has valued the plots in question at Rs.93,26,000/-.
3. According to report of the panel valuer dated 4.8.2014 the value of the aforesaid two plots as per circle rate is Rs.86,71,200/-, as per exempler Rs.52,36,906/- and as per current market rate Rs.65,03,400/-.
4. As per para 9 of the O.L. Report, land of the company in liquidation of Khasra Plot No. 11 is in nine parts and Khasra Plot No. 12 is in seven parts with approximate market value as per panel valuer's report as under :- GATA NO. 11 Sl. No. Name of the A/c Holder Area of land ( Hectare) Nomenclature as per D.M. Office report Status of Approach Value as per Market Rate ( Rs.) 1 Mr. Vishwanath Singh 1.130 11A No approach 960500/-
2 Smt. Lakhra etc. 0.286 11B Situated on village road 271700/-
3 Mr. Arvind Kumar Singh 0.039 11C No approach 33150/-
4 Mr. Ibrahim 0.060 11D No approach 51000/-
5 Mr. Karuna Shankar Singh 0.128 11E No approach 108800/-
6 Mr. Ram Samujh Singh etc. 0.259 11F No approach 220150/-
7 Mr. Hazari etc. 0.405 11B No approach 344250/-
8 Mr. Malti Varma etc. 0.324 11D No approach 275400/-
9 Mr. Ram Samujh Singh etc. 0.643 11F No approach 546550/-
2811500/-
GATA NO. 12 Sl. No. Name of the A/c Holder Area of land ( Hectare) Nomenclature as per D.M. Office report Status of Approach Value as per Market Rate ( Rs.) 1 Mr. Mira Singh 0.125 12A Situated on village road 118750/-
2 Mr. Jagdish Prasad etc. 0.085 12A No approach 72250/-
3 Old allotment 2.505 12B Village road across the plot.
2379750/-
4 Mr.Mukum Ali Shabbir 0.089 12C Situated on village road 84550/-
5 Mr. Ramesh Kumar etc. 0.125 12E No approach 106250/-
6 Mr. Sita Ram etc. 0.113 12E No approach 96050/-
7 Mr. Vinod Kumar etc. 0.910 12D No approach 864500/-
3722100/-
5. Letter dated 2nd August, 2014 of the District Magistrate, Bahraich is accompanied with a joint report of Lekhpal village Purejaita, Revenue Inspector, Tehsildar and SDM, Kesarganj, dated 24th July, 2014. In paragraph no. 2 of this joint report, it is suggested that to obtain the maximum market price of these two khasra plots ( agricultural land), it is necessary to sell it by auction after wide publicity through daily newspapers, banners and munadi etc. A sketch map has also been annexed with the said joint committee along with its report in which location of each part of the agricultural land of the company in liquidation in Khasra Plot No. 11 and 12 have been shown.
6. Considering the reports as aforementioned and also considering the facts with regard to the earlier efforts made to sell agricultural land of the aforesaid two Khasra plots belonging to the company in liquidation as noted in the earlier orders including the order dated 2nd July, 2014 passed by this Court, it appears appropriate that the agricultural plots in question may be sold by auction which may be held by the Official Liquidator as provided in Rule 272 and 273 of the Companies (Court) Rules, 1959 .
7. In view of the above discussion, it is directed as under : -
(i) Sri O.P. Sharma, Official Liquidator shall hold public auction for sale of the agricultural land of the company in liquidation of Khasra Plot No. 11 and 12 of the village Purejaita, Pargana-Hisarpur, Tehsil Kesarganj, District Bahraich, in accordance with law.
(ii) The SDM and the Thesildar of Tehsil Kesarganj, District Bahraich shall assist the Official Liquidator in holding the auction proceeding . The District Magistrate, Bahraich shall ensure that the aforesaid two authorities render full assistance to the Official Liquidator in the matter of public auction of plots in question.
(iii) The Khasra plot No. 11 and 12 shall be auctioned in parts or some parts together or as a whole with minimum reserve price as under : - GATA NO. 11 Nomenclature as per D.M. Office report Area of land ( Hectare) Minimum reserved price (Rs.) 11A 1.130 960500/-
11B 0.286 271700/-
11C 0.039 33150/-
11D 0.060 51000/-
11E 0.128 108800/-
11F 0.259 220150/-
11B 0.405 344250/-
11D 0.324 275400/-
11F 0.643 546550/-
2811500/-
GATA NO. 12 Nomenclature as per D.M. Office report Area of land ( Hectare) Minimum reserved price (Rs.) 12A 0.125 118750/-
12A 0.085 72250/-
12B 2.505 2379750/-
12C 0.089 84550/-
12E 0.125 106250/-
12E 0.113 96050/-
12D 0.910 864500/-
3722100/-
(iv) The Official Liquidator is directed to proceed with the sale of aforementioned plots by public auction which shall be held at the headquarter of Tehsil Kesarganj District Bahraich on the usual terms and conditions. For this purpose he shall issue advertisement in largely circulated local daily newspaper, namely, "Amar Ujala ( Hindi)" and "Dainik Jagran ( Hindi)" with complete details of plots and minimum reserve price The advertisement shall be published by 20th August, 2014.
(v) The Official Liquidator shall also sent a copy of this order to the District Magistrate, Bahraich, SDM and Tehildar of Tehsil Kesarganj, District Bahraich who are directed to extend full assistance and security to the official Liquidator in the matter of auction of the plots in question.
(vi) The SDM and Tehsildar, Kesarganj, after the advertisement is issued in the newspapers as aforementioned; shall ensure wide publicity of the proposed auction sale of the plots in question including the publicity by affixing the notice of auction sale along with a copy of location map of each part of the plots in question, on the notice board at the Tehsildar Headquarters of Tehsil, Kesarganj, concerned blocks and other important places and shall also ensure publicity by beat of drums as suggested in the above mentioned joint report submitted by letter No. 661 dated 24th July, 2014. The aforesaid two officers shall also ensure publicity through the concerned Lekhpal and Revenue Inspector. It shall also be ensured that due publicity is also made on each Tehsil Divas till the public auction is held.
(vii) The Official Liquidator shall, with the assistance of the SDM/Tehsildar, Tehsil Kesarganj, District Bahraich shall allow inspection of each part of the Khasra Plot No. 11 and 12 to the interested parties / prospective bidders on 6th September, 2014.
(viii) The highest bid received shall be subject to acceptance by this Court and compliance of terms and conditions of auction.
8. With the directions aforementioned, the OL Report (Judicial ) No. 219 of 2014 is disposed of. Order Date :- 6.8.2014 Mukesh