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2010 (5) TMI 388 - HC - Companies LawWhether the auction purchaser was throughout aware of the presence of the unauthorised occupant in part of the plot in question, the status of the plot i.e., it stood resumed by PUDA and that the auction purchaser at every opportunity had used the process of Court for getting the possession of the plot? Held that:- The learned Company Judge has allowed himself to be persuaded by completely overlooking the facts on record and the conduct of the auction purchaser amply demonstrated in various applications preferred by him despite taking possession of the vacant part of the property on 14-5-1996 after making on payment of only 25 per cent earnest money. It is obvious that the auction purchaser has enjoyed the property for all these years without paying the outstanding 75 per cent balance amount as per the schedule of payment. It cannot be disputed that as per the terms of the agreement dated 7-5-1996, an amount of rupees two crores was due to be paid by the auction purchaser on 20-7-1999, which had swelled to a sum of ₹ 23,67,94,369 as on 1-11-2008. In view of the above, we are left with no option but to accept the appeal. Accordingly, the impugned order dated 23-7-1999 is hereby set aside. The application bearing C.M. No. 5 of 2009 filed in the present appeal by the auction purchaser respondent No. 2, praying for withdrawal of CA Nos. 343 and 344 of 1999 thus seeking to revive his initial prayer (in CA No. 341 of 1996) for re-schedulement of payment of due instalments is dismissed with costs of ₹ 50,000 to be paid to the Corporation within a period of two months from the date of receipt of certified copy of this order. The amount calculated as on 1-11-2008 was ₹ 23,67,94,369. The auction purchaser is directed to pay aforesaid amount to the Corporation within four weeks from today. The Corporation is directed to intimate the auction purchaser within four weeks from today the total balance amount due to be paid by him in terms of the agreement dated 7-5-1996. The auction purchaser is further directed to pay the entire balance amount found due as intimated by the Corporation within next three months failing which the appellant Corporation shall be entitled to resume the plot and take possession in accordance with law. The Corporation is also given liberty to take steps to recover compensation, if found due, on account of use and occupation of portion of the plot by the auction purchaser. The auction purchaser - respondent No. 2 shall be entitled to the remaining portion of the plot in question in pursuance to the decree dated 5-5-1998 subject to the payment of all outstanding dues towards the Corporation.
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