JUDGMENT

Rajendra Babu, J.-The respondents brought a suit on the original side of the Bombay High Court for recovery of certain sum of money against the petitioner and the Guarantor. In respect of machinery which had been stated to have been financed by the respondent-Bank a Court Receiver was appointed and the respondents took out a Notice of Motion making several prayers, including one for sale of the suit machinery. The learned trial Judge refused the prayer for the same. On appeal to the Division Bench, the same had been allowed subject to sanction of the court and with liberty to the petitioner to participate in the sale as and when it is held. Pursuant to the order of sale, the respondents issued advertisement and also received offers for the same. An application was made to the Division Bench seeking permission for sale of the suit machinery to the person having made the best offer which was at Rs. 1.26 crores. However, subsequently, the petitioner offered a sum of Rs. 1.30 crores. The Division Bench had refused to consider the said request. Hence this petition.

2. The Division Bench of the High Court is of the opinion that nothing had been done by the petitioner to take p