Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2015 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (3) TMI 195 - DELHI HIGH COURTRefund of the amount - Failed to deliver the possession of the auctioned assets - Sale in on “AS IS WHERE IS BASIS AND WHATEVER THERE IS BASIS” - Held that:- In my view, the stand of IFCI is patently erroneous and Clause 2.6 has to be read in conjunction with Clause 2.4 of the said terms and conditions which provided for inspection of the assets to the interested parties. In another words, IFCI had made it clear that parties would physically inspect the assets at site and submit their bids. Clause 2.6 only absolved IFCI from any variance between description of the goods and those offered at site. This would certainly not absolve IFCI from delivering the assets as were inspected by the petitioner. In the given circumstances, the writ petition is allowed to the extent that the petitioner is directed to be refunded the amount paid by the petitioner for the said assets and the sale certificate issued by IFCI is cancelled. As IFCI has deposited the entire consideration paid by the petitioner with the Registry of this Court, the Registry is directed to release the said sum alongwith accrued interest, if any, to the petitioner within two weeks from date. - Decided in favour of appellant.
|