(Per : HONOURABLE MR.JUSTICE D.H.WAGHELA)
1. Special Civil Application No.4621 of 2011 is filed by the petitioner, Co-operative Society in liquidation, mainly with the prayers to set aside the orders dated 18.02.2011 and 01.03.2011 in R.P.Nos.452 and 453 of 2006 made by Recovery Officer, Debt Recovery Tribunal-II, Ahmedabad and stay the advertisement issued pursuant to such orders. And, Special Civil Application No.4625 of 2011 is filed by the State Government and the Registrar of Co-operative Societies with the same prayers. During the course of hearing of the petitions, various interim orders have been made to ensure proper disposal of assets and realization of maximum possible amount for the assets of the Co-operative Society in liquidation. By order dated 13.09.2011, an order based on unanimity amongst the advocates was made so as to constitute a Committee to undertake auction sale of the properties in question; and that Committee is headed by Mr. Dilip Raval, Registrar, Co-operative Societies with two members, viz.Mr.C.M.Bhabhor, District Registrar, Co-operative Societies, Bharuch, who is also the Liquidator, and Mr.Surendra Sharma, Chief Manager of Bank of Baroda.
2. Now there is unanimity amongst the advocates concerned that the properties of the Society must be sold expeditiously and at the best possible price. The Committee has already sold plant and and machinery which fetched Rs.10.55 crores and that amount is lying with the Liquidator. However, the structure, i.e. building and other immovable properties, including land, are yet to be sold. It was, therefore, requested and jointly submitted that the present petitions may be disposed with the direction to sell the land and structures standing thereon within three months, in such manner that best price and maximum value is realized and thereafter the total sale proceeds may be distributed, in accordance with law, among the rightful claimants. It was also jointly submitted and requested that the Sale Committee under the order of this Court as aforesaid may be directed to finish the aforesaid remaining task of auctioning the land and structure by giving wide publicity in leading vernacular and English newspapers.
3. Accordingly, by consent, the petitions are disposed with the direction that the aforesaid Committee shall, as far as practicable within a period of three months, auction the remaining properties of the petitioner Society (in liquidation) after necessary publicity of holding of auction. And, thereafter the Liquidator shall disburse the amount realized earlier and pursuant to this order, in accordance with law and as expeditiously as practicable. It is clarified that this order is made by consensus and consent, without dealing with the contentions of the parties concerned. Accordingly, notice is discharged, with no order as to costs.
4. Civil Application does not survive in view of this order and accordingly it stands disposed.
Sd/-
( D.H.Waghela, J.) Sd/-
( G.B.Shah, J.) (KMG Thilake) Top