S.Shankar v. M/S Cholamandalam Investment

Application No.4046 of 2016 in E.P.No.95 of 2013 M.M.SUNDRESH, J.

The learned counsel for the applicants submit that the applicants will show their bona fide by making payment of some amount. The learned counsel for the respondent submits that the award has become final and therefore, legally the applicants have no legs to stand. 2.Though the submission of the learned counsel for the respondent is correct, considering the fact that the property is a residential house, this Court is inclined to give one more opportunity and accordingly, while directing the respondent to go on with the auction, confirmation shall not be made, subject to the condition that the applicants pay a sum of Rs.25,00,000/- (Rupees Twenty Five Lakhs Only) to the credit of E.P.No.95 of 2013 within a period of one week from the date of receipt of a copy of this order and another Rs.25,00,000/- (Rupees Twenty Five Lakhs Only) within a period of five weeks thereafter. It is made clear that if any of these conditions are not complied with, it is well open to the respondent to proceed not only with the auction, but also confirmation of sale.

3.Post the matter after six weeks.

KM 19.08.2016 Note to the Registry: Issue order copy on 23.08.2016.

M.M.SUNDRESH, J.

KM A.No.4046 of 2016 in E.P.No.95 of 2013 19.08.2016