HEMANT GUPTA, J. - This order shall dispose of CWP Nos.11058 of 2011 and 13065 of 2011, both raising identical question of payment of dues of the State in terms of the auction conditions. The assets of M/s Punjab Fibres Ltd. (for short ‘the Company’) were put to auction by IFCI Ltd. in terms of provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the SARFAESI Act’). The tender conditions, which are subject matter of interpretation, read as under:

“2.6 All the assets offered for sale are on “AS IS WHERE IS AND WHATEVER THERE IS BASIS” as a composite unit or separately lot wise for Land & Building and/or Plant & Machinery and other assets. The quantity indicated, if any, are purely indicative & without any guarantee and IFCI Ltd. Shall not entertain any claim/complaint from the buyer for any deficiency in quantity/size/number etc. for recovery of whole or any part of the bid, purchase money, loss of profit/interest, damages etc.

2.7 The unit may have certain outstanding liabilities which are to be met by the purchaser and which will be over and above the purchase consideration. The prospective purch