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TMI Blog2020 (9) TMI 1181X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed by the Applicant, IA/637/2020 is taken up for hearing and accordingly IA/638/2020 stands allowed. 2. IA/637/2020 is an Application filed under Section 60(5) of IBC, 2016 seeking relief as follows; a. Direct / Restrain the 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 in any manner by forfeiting or transferring the amount to some where prejudicial to this Applicant, pending final adjudication of the present Application. b. AND direct that the Applicant is the successful bidder for a total sum of Rs. 130 Lakhs and the same is inclusive of the MSD Amount of Rs. 6 Lakhs or such amount as may be payable for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roperty under the name and style of M/S. Pinki Tours and Travels Limited. 5. It is seen from the records, that this Tribunal vide order dated 28.02.2020, upon an application filed by the Liquidator, had permitted the Liquidator to proceed with the private sale of the property situated at DSM - 060, Ground Floor, DLF Towers, Shivaji Marg, New Delhi - 110 015, which forms part of the Liquidation Estate in relation to the Corporate Debtor. 6. It is stated that the Applicant was the successful bidder of the property for a sum of Rs. 130 Lakhs and it is the contention of the Applicant that the Respondent, over and above the bid amount, has also demanded separately a sum of Rs. 6 Lakhs to be paid in order to consummate the sale. Thereafter, it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he successful bidder will have to pay a sum of Rs. 6 Lakhs (approximately) towards interest bearing maintenance security Deposit with DLF (towards maintenance deposit), which will be the asset of the Successful Bidder. 10. Thus, even in the Process Memorandum itself, the Liquidator has mentioned that the successful bidder will have to pay a sum of Rs. 6 Lakhs towards interest bearing maintenance security Deposit with DLF and it is understood that the said amount has to be paid over and above bid price. Hence, the attempt of the Applicant to say that the bid amount is inclusive of the Maintenance Security Deposit proves to be futile and not sustainable. 11. Further, when the terms and conditions of the bid have clearly postulated that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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