Mr.C.S.Bhaskar v. Mr.R.Srinath

A.No.1937 of 2018 in C.S.No.187 of 2015 N.SATHISH KUMAR, J.

Though several enquiries made in pursuant to the advertisement given in the paper publication, interested purchasers have apprehension to deposit 25% of the Upset price as E.M.D. which comes around Rs.1.25 Crores as fixed by this Court vide order, dated 23.9.2019. As the properties sought to be sold by way of Court auction, normally there will be apprehension on the part of the buyers to deposit such huge amount as E.M.D. and the apprehension is reasonable also.

2. Considering the above aspect, this Court is of the view that instead of fixing some percentage towards E.M.D. it would be appropriate to invite genuine purchasers whoever participate in the public auction and shall deposit Rs.25,00,000/- (Rupees twenty five lakhs only) towards E.M.D. and the same is refundable in the event of the sale is not finalised.

3. With the above conditions, fresh paper publication may be issued by the Advocate Commissioner in a widely circulated newspaper. Post on 21.12.2020.

9.11.2020 Note: Issue order copy on 10.11.2020 vaan http://www.judis.nic.in

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