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Madras High CourtA/457/2020allowed

M/S.Denwood Merchandising And Industries Private Ltd v. K.Irshad Anwer

2020-07-21Honourable Mr Justice C.V. Karthikeyan6 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY THE 02ND DAY OF AUGUST 2021 THE HON'BLE DR. JUSTICE G.JAYACHANDRAN M/s.Denwood Merchandising and Industries Private Limited, rep. by its Authorised Representative, Mr.P.Deepak Kothari, aged 43 years, S/o.Mr.P.C.Kothari, Chokkani Centre, New No.29, Old No.16, Whites Road, Royapettah, Chennai-600 014.

... Applicant/Plaintiff -VersusK.Irshad Anwer, aged 51 years, S/o.Mr.Akbar Basha, Proprietor, Allied Leather Industries, No.329, Patel Yacoob Street, Fort, Vaniyambadi, Vellore District-635 751. ... Respondent/Defendant Application praying that this Hon'ble Court be pleased to pass a final decree in C.S. No.808 of 2018 for sale of the mortgaged properties described in the schedule mentioned hereunder and for applying the sale proceeds in payment of the decreed amount of Rs.1,49,61,659.65 (Rupees one crore forty nine lakhs sixty one thousand six hundred and fifty nine and paise sixty five only) together with the subsequent interest at the rate of 24% per annum and such other cost as may be determined by this Hon'ble

Court.

This application coming on this day before this court for hearing in the presence of Mr.K.Surendar, advocate for the applicant herein and Mr.V.Manikandan, Advocate Commissioner appearing in person and upon reading the order herein dated 04.03.2021, and the court made the following order:- The Advocate Commissioner has filed his interim report along with guidelines value for the suit schedule property. From the report, this Court finds that the guideline value of the suit property is about Rs.107 per square feet and the total extent of the suit property is around 3600 square feet. The approximate value of the suit schedule property is around Rs.3,85,200/-. The proclamation already been issued and the Advocate Commissioner seeks for fixation of upset price and the date of auction.

2. Considering the valuation report and the nature of the property, this Court is of the view that the suit schedule property can be auctioned under two lots, Plot No.44, 1800 square feet, Plot No.45, 1800 sq.ft. Upset price for each lot/plot shall be at Rs.2 lakhs. The acution sale notice shall be widely published on or before 09.08.2021 through handbills and in anyone of the daily circulated in that locality informing the public about the auction on 25.08.2021 at 11 a.m. At the suit property. The successful bidder

shall deposit 25% of the bid amount on the same day and the balance within 15 days.

Post the matter on 28.09.2021.

WITNESS THE HON'BLE MR. JUSTICE SANJIB BANERJEE, CHIEF JUSTICE, HIGH COURT AT MADRAS AFORESAID, THIS THE 02ND DAY OF AUGUST 2021.

Sd./- ASSISTANT REGISTRAR (Comm. Cases) //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

SK 11.08.2021

ORDER

DATED : 02.08.2021 THE HON'BLE DR.JUSTICE G.JAYACHANDRAN FOR APPROVAL: 12.08.2021 APPROVED ON: 13.08.2021 Copy to:- Mr.V.Manikandan, Advocate Commissioner, (Enrl. No.2111/2015) office at 152, Thambu Chetty St., IV Floor, Chennai-600 001.

(Mobile Nos.9003754673 9094790986)

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 02ND DAY OF AUGUST 2021 THE HON'BLE DR. JUSTICE G.JAYACHANDRAN M/s.Denwood Merchandising and Industries Private Limited, rep. by its Authorised Representative, Mr.P.Deepak Kothari, aged 43 years, S/o.Mr.P.C.Kothari, Chokkani Centre, New No.29, Old No.16, Whites Road, Royapettah, Chennai-600 014.

... Applicant/Plaintiff -VersusK.Irshad Anwer, aged 51 years, S/o.Mr.Akbar Basha, Proprietor, Allied Leather Industries, No.329, Patel Yacoob Street, Fort, Vaniyambadi, Vellore District-635 751. ... Respondent/Defendant Application praying that this Hon'ble Court be pleased to pass a final decree in C.S. No.808 of 2018 for sale of the mortgaged properties described in the schedule mentioned hereunder and for applying the sale proceeds in payment of the decreed amount of Rs.1,49,61,659.65 (Rupees one crore forty nine lakhs sixty one thousand six hundred and fifty nine and paise sixty five only) together with the subsequent interest at the rate of 24% per annum and such other cost as may be determined by this Hon'ble

Court.

This application coming on this day before this court for hearing, and the court made the following order:- The Advocate Commissioner has filed his interim report along with guidelines value for the suit schedule property. From the report, this Court finds that the guideline value of the suit property is about Rs.107 per square feet and the total extent of the suit property is around 3600 square feet. The approximate value of the suit schedule property is around Rs.3,85,200/-. The proclamation already been issued and the Advocate Commissioner seeks for fixation of upset price and the date of auction.

2. Considering the valuation report and the nature of the property, this Court is of the view that the suit schedule property can be auctioned under two lots, Plot No.44, 1800 square feet, Plot No.45, 1800 sq.ft. Upset price for each lot/plot shall be at Rs.2 lakhs. The acution sale notice shall be widely published on or before 09.08.2021 through handbills and in anyone of the daily circulated in that locality informing the public about the auction on 25.08.2021 at 11 a.m. At the suit property. The successful bidder shall deposit 25% of the bid amount on the same day and the balance within 15 days.

Post the matter on 28.09.2021.

Sd./-G.J.J.

02.08.2021 //Certified to be true copy// Dated at Madras this the day of 2021. COURT OFFICER(O.S.) From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.