TMI Blog2017 (3) TMI 277X X X X Extracts X X X X X X X X Extracts X X X X ..... acres. We have been apprised at the Bar that the same has been acquired by the Ghaziabad Development Authority and the price, as stated in the Annexure, is ₹ 1112.70 crores. It is submitted by the learned senior counsel for the contemnor that the same is payable to him along with interest. To appreciate the said submission, it is obligatory on the part of the Court to offer an opportunity of hearing to the Ghaziabad Development Authority. Let notice be issued to the said authority within a week hence. The requisites in that regard be filed by the petitioner, S.E.B.I., within three days from today. The competent authority of the Ghaziabad Development Authority shall bring the computation in regard to the compensation awarded and re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nos.83-85/2015,104-106, 131/2015, 158-160, 180-182, 190-191, 194-195, 205-207, 208, 209-210, 211, 212-214, 218-220, 227, 231, 232, 239, 240, 241, 242, 243 244-246, 247, 251-252, 253-255, 256, 257-259/2016 260-262/2017 In CONMT.PET.(C) Nos.412-413/2012 In C.A. Nos.9813,9833/2011 C.P.(C) No.260/2013 In C.A. No.8643/2012 Mr. Shekhar Napahade, Sr. Adv. (A.C.) Mrs. Shubhanghi Tuli, Adv. Mr. Vikram Sobti, Adv. For Petitioner(s) Mr. Arvind P. Datar, Sr. Adv. Mr. Pratap Venugopal, Adv. Ms. Surekha Raman, Adv. Mr. Purushottam K. Jha, Adv. Mr. Anuj Sarma, Adv. Ms. Niharika, Adv. Mr. Aman Shukla, Adv. Ms. Kanika Kalaiyarasan, Adv. for M/s. K. J. John Co. For Respondent(s) Mr. Kapil Sibal, Sr. Adv. Mr. Narendra Hooda, Sr. Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This Court on 6th February, 2017, had directed the contemnor to file a list of properties that can be put to public auction. At that time, it was categorically mentioned that the properties should be free from any encumbrance. In pursuance of the said order, a list of properties has been filed which has been categorized as Part 'A' and Part 'B'. Part 'A' contains list of fifteen properties which are stated to be free from encumbrances and Part 'B', as is admitted, includes some of the properties which have been encumbered. As we had thought of putting the properties to auction, we think it appropriate to mention the list of properties contained in Part 'A'. It is as follows:- 1. Sahar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e properties. Mr. Datar has submitted that earlier on two agencies, namely, SBICAPS, a subsidiary of the State Bank of India and the HDFC Bank, were appointed by this Court to conduct the e-auction, but they could not really sell the properties by way of e-auction as far as some of the properties are concerned, that is, Item Nos.5 to 11. It is his further submission that it is difficult to conduct auction and fetch money and, therefore, the contemnor may be directed to sell the properties and deposit the money with S.E.B.I. Mr. Arvind P. Datar, learned senior counsel has submitted that the contemnor is at liberty to sell any property situate in Part 'B' or anywhere else, subject to that the consideration should not be less than 90% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In view of the aforesaid, we permit the contemnor to sell the properties mentioned in Part 'A' barring the property at Item No.15, and any other properties mentioned in Part 'B' and other properties which are not encumbered and deposit ₹ 5092.64 crores on or before 13th April, 2017. The amount shall be deposited in SEBI Sahara Refund Account. In case, the substantial amount is deposited, this Court may think of extending the time, otherwise appropriate direction shall be issued. At this stage, one aspect is required to be dealt with. As is evident from Part 'A', item No.15, the land at Ghaziabad admeasures 91.65 acres. We have been apprised at the Bar that the same has been acquired by the Ghaziabad Develo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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