1. By this order I propose to dispose of CA No.1185/2006 (preferred by M/s Indocap Pvt. Ltd. for enhancement of the bid price to Rs.4.10 crores for the land and building), CA No. 1449/2006 (preferred by IDBI for disbursement of the amount lying with the Official Liquidator), CA No.554/2007 (preferred by M/s Surya Finvest P. Ltd. for enhancement of the bid price to Rs.4.50 crores for the land and building) and C.A. No.698/2007 (preferred by Industrial Finance Corporation of India Ltd. [IFCI Ltd.]) to set aside the auction dated 04.11.2004 in favour of Gagan Educational Society in respect of the land and building of the company in liquidation admeasuring 35 acres and having built up area of about 79,658.75 sq.ft situated at M.I.A Extension, Delhi-Alwar Road, Alwar (Rajasthan). Brief facts leading to the filing of these applications are as follows:

.2. M/s Saraf Paper Mills Ltd. was ordered to be wound up by this Court on 20.05.1994 in C.P. No.201/1990 and the official liquidator attached to this Court was appointed as its liquidator. The effort to sell the property of the company in liquidation

.consisting of the plant and machinery, and factory premises i.e. the lan