Vikram B. Trivedi And ANR v. Kalpavruksha Developers And ORS

2-CRR-184-19.doc Dixit

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO.184 OF 2019 IN COMMERCIAL SUIT NO.328 OF 2018 Vikram B. Trivedi and Anr.

....Plaintiffs V/s.

M/s. Kalpavruksha, Developers and Ors.

....Defendants Mr. Rahul Sarda, with Mr. Rounaq Mukherjee, i/by Mulla & Mulla Cragie & Blunt, for the Plaintiffs.

Mr. Dipesh Siroya for Defendant Nos.1 to 5.

Mr. Rubin Vakil, i/by Mr. Tejas Shah, for Defendant Nos.9 and 10. Mr. P.K. Nardele, O.S.D. Court Receiver, is present. CORAM : A.K. MENON, J.

DATED : 3 RD OCTOBER, 2019.

P.C. :

1.

On 22 nd August 2019, the interested parties were permitted to ascertain market value and make an offer in respect of the office nos.817, 818, 819, 821 and 822. Offers have been received only for office nos.821 and

822. No offers have been received for office nos.817, 818 and 819. 2.

The offers received were considered in the meeting dated 30 th August 1/2

2-CRR-184-19.doc 2019, where two parties having interest were present; however, only one of them, namely, M/s.Amex Resources, has increased the offer and, therefore, came out as a highest bidder offering a sum of Rs.90 lakhs for both the offices being office nos.821 and 822.

3.

Considering the Valuation Report of M/s. Rane Engineers & Surveyors, I am afraid that it is not possible to accept these offers. The offers are, therefore, rejected. The earnest money paid shall be returned to the parties. The Valuation Report to be put back in a sealed cover. Fresh schedule to be fixed in such a manner that an advertisement is issued within six weeks from today.

4.

The costs of the Receiver is also allowed. The Court Receiver's Report is disposed in the above terms.

(A.K. MENON, J.) 2/2