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2020 (9) TMI 1181 - Tri - Insolvency and BankruptcyRestraint on Respondent Liquidator to create any third party interest by way of auction, sell or proceed to deal with the property otherwise or deal with the EMD remitted by Applicant - liability to pay the sum of ₹ 6 Lakhs to the Liquidator over and above the successful bid amount of ₹ 130 Lakhs - HELD THAT:- It is seen that the Applicant has paid a sum of ₹ 10 Lakhs as EMD and the remaining sum of ₹ 120 Lakhs is yet to be paid and the Counsel for the Applicant has submitted that they are ready with the amount to be paid to the Liquidator. Taking into consideration, the said representation, we direct the Applicant to pay the remaining amount of ₹ 120 Lakhs to the Liquidator within seven days from the date of receipt of the Order. Further, the Applicant is also directed to pay a um of ₹ 6 Lakhs to the Liquidator towards Maintenance Security Deposit within the said period of 7 days from the date of receipt of this order and the same to be remitted to DLF. Upon receiving the total bid amount and the Maintenance Security Deposit, the Liquidator is directed to execute the sale deed and hand over the possession of the property along with title documents within a period of 7 days thereafter and further it is clarified that the Liquidator will pay the pending tax arrears to MCD as undertaken. Application disposed off.
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