JUDGMENT

Harinder Singh Sidhu, J. - This petition has been filed for setting aside the E-auction conducted from 25.04.2022 to 28.04.2022 pursuant to e-auction notice dated 30.03.2022 (Annexure P-2) including the confirmation of sale if any. It is also prayed that official respondent No.2 be directed to re-auction the property (Lot-1).

2. The petitioner is the sole proprietor of his firm registered in the name of CY International, New Delhi which is engaged in the business of manufacture of motor, controller and differential etc.

3. Respondent No.4 is the company whose property was put to Eauction by respondent No.2 - Punjab State Industrial Development Corporation (PSIDC) through respondent No.3 Punjab Urban Development Authority (PUDA) by invoking the provisions of Section 29 of the State Financial Corporation Act, 1951.

4. As per the of E-auction notice dated 30.03.2022 the property to be sold for recovery of dues was to be sold in two lots. Lot No.I comprised Plot No.B-1, Focal Point Jalandhar measuring 4028 sq. yards on 99 years lease from PSIEC along with building and plant an