( 1 ) THE petitioner, who had made an offer for purchase of the assets of respondent No. 4 - M/s. Seema Ice and Cold Storage (P) Ltd. that were put to sale under Section 29 of the State Financial Corporations act, 1951 by the respondent Nos. 1 and 2 u. P. Financial Corporation, questions the entire decision making process of the finalization of the sale, made by the financial corporation in favour of respondent No. 3, on the ground that the decision of the respondent- financial Corporation is unreasonable, unfair and is non-transparent and is therefore liable to be struck down as being violative of Article 14 of the Constitution of India.

( 2 ) THE matter was heard and an interim order was passed on 24-3-1995 calling upon the financial Corporation to file counter affidavit and it was directed that in the meanwhile the auction shall not be finalized without considering the objection of the petitioner. Pursuant to the said interim order, a decision was taken by the respondent financial Corporation on 22-4-1995 in the meeting of a Committee of the Corporation whereby it was resolved that since the Corporation had already entered into a lawful agreement with the respondent No. 3- M/s.

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