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1998 Supreme(Mad) 1119

K.NATARAJAN, C.SHIVAPPA
Gemini Foundation rep. by J. Nizar, No. 60, G. N. T. Road, Mad- havaram High Road, Madras 600 110 – Appellant
Versus
V. B. Giri and others – Respondent


Advocates:
Mr. A.L. Somayaji, Senior Counsel, Advocate for Appellant. Mr. T.K.
Seshadhri, Advocate for Respondents.

Judgment :

C. Shivappa, J.

1. The appellant herein has challenged the order dated 12. 1998, passed on Application No. 321 of 1998 in C.S.No. 201 of 1981, by the learned single Judge on the Original Civil Jurisdiction of this Court, refusing permission to withdraw the amount deposited, as the highest bidder for the purchase of two of the suit properties, viz. (i) House Property bearing Door No. 1/110, III Block, Jaya Nagar, Bangalore-II, for Rs.80 lakhs; and (ii) a landed property situated in Old mahabalipuram Road for Rs 1 lakh. The Court accepted this offer for the above-mentioned properties and also laid down conditions to deposit 25% of the bid amount within four weeks from 30.4.1997 and to deposit the remaining amount within eight weeks thereafter and complete the sale.

2. The appellant on 25. 1997 deposited a sum of Rs. 20,00,000 being the 25% value for the Bangalore property and a sum of Rs. 1,00,000 being the 100% bid amount for the property situated at Old Mahabalipuram Road, He sought for further extension of time till 9. 1997. Since he did not muster the required balance amount within the time granted, the learned Judge was pleased to cancel the sale order, by his order

















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