IN THE HIGH
COURT OF DELHI AT NEW DELHI
W.P.(C)
No.1399/2010
NATIONAL INVESTOR FORUM REGD. ..... Petitioner
Through: Mr.
Harpawan Kumar Arora, Adv. for GFIL Committee.
versus
GOLDEN FORESTS INDIA LTD. ..... Respondent
Through: Mr.
Shailendra Bharadwaj with Mrs. Aroma S. Bharadwaj, Advs. for M/s. Golden
Forests India Ltd.
Mr. Harish
Malhotra, Sr. Advocate with Mr. Gaurav Dhima and Mr. Anjani Kumar Singh,
Advs. for the applicant in CM No.1313/2012.
Mr. Anil
Mittal, Adv, for non-applicant/objector Nos.1, 2 and 3 in
CM No.18353/2011
Mr. U.
Hazarika, Sr. Adv. with Mr. Ashok Kumar Singh and Mr. Shantwana Singh,
Advs. in CM No.4306/2011.
Mr. Rajiv
Dutta, Sr. Adv. with Mr. S. Ravi Shankar, Adv. for the non-applicant in
CM No.4310/2010 and CM No.11269/2011.
CORAM:
HON'BLE THE ACTING CHIEF JUSTICE
HON'BLE MR. JUSTICE RAJIV SAHAI ENDLAW
O R D E R
06.02.2012
CM No.1313-14/2012 (of M/s. Asian Real Spaces LLP for petting aside
the order dated 30.9.2011 of the Committee)
1.The Committee of Golden Forests India Limited had
invited bids for sale of agricultural land admeasuring 205.170 hectares
(i.e. 507 acres)
situated in Village-Harsola, District Indore, Madhya Pradesh. The
advertisements were published in some of the leading newspapers. The
reserve price of the property was kept as `98 Crores and participation
money prescribed was of `1 Crore. The applicant was one of the bidders
and had deposited the participation money of `1 Crore with the
Committee.
As per the terms of bids/offer, the applicant was required to deposit
20%
of the bid amount by 27.9.2011, subject to the confirmation of the bid
by
this Court. The bid conditions further provided that the balance
amount
is to be paid within 30 days from the date of the confirmation by the
High Court. In the event of failure of deposit of 20% amount, the
participation money was to be forfeited. Likewise, even if 20% deposit
was made, but the successful bidder did not make payment of the
balance
amount within the time stipulated, the participation money as well as
the
20% bid money was to be forfeited.
2.The bid of the applicant being the highest was accepted. However,
the applicant did not deposit 20% of the bid amount by 27.9.2011 or
thereafter. The applicant has given certain reasons because of which
the
applicant did not deposit the amount. At this stage, we are not going
into these reasons. The Committee vide its order dated 30.9.2011
forfeited the participation money of `1 Crore deposited by the
applicant
and directed inviting of fresh bids. Challenging the said order, the
present application is filed.
3.During the course of arguments, a suggestion was
mooted that even
now this Court may grant time to the applicant to deposit the bid
amount
with interest.
4.There is an apprehension in the mind of the
applicant that even if
the amount is deposited, the applicant may not get the actual physical
possession of the property in question and it is also stated that the
land available may be less than what is notified in the auction
notice.
5.Learned counsel for the Committee states that the
Committee would
be in a position to give the actual physical possession of the land in
question and in case, the land measures less than notified, there is a
clause for pro rata reduction of the bid amount.
6.In these circumstances, before we proceed further,
we direct the
applicant to deposit 20% of the bid amount within 10 days from today.
Question of interest is left open, which will be decided on the next
date.
7. List on 17th February, 2012.
CM No.18353/2011 (of the GFIL Committee for
confirmation of the order
dated 12.8.2011)
8.The respondents/objectors remain 4 to 9 remain to
be served.
Afresh notice be served to objector Nos.4 to 9, also through objector
No.6, Mr. Narender Hooda, , returnable on 19th March, 2012.
9.Mr. Mittal, learned counsel appearing for the
respondent/objector
Nos.1, 2 and 3 may file reply within four weeks.
CM No.4310/2010 (Previously registered
as I.A. No.75 of 2007 in the
Supreme Court)
10.This application has been filed by the
Committee with prayer that the sale of the land on which the said
school
is being run be not confirmed. Vide orders dated 15.10.2008 of the
Supreme Court, this I.A. was referred to the Committee for passing
appropriate orders, subject to the confirmation by the Supreme Court.
Since then, the entire matter has been transferred to this Court; it
would imply that the confirmation now has to be by this Court. After
the
aforesaid orders were passed by the Supreme Court, the Committee went
into the matter and passed the order dated 18.2.2009. Copy of that
order
is annexed with CM N.1269/2011 filed by the Committee.
11.As per the school, it had taken the land in
question vide lease
deed dated 12.3.1998 executed between Golden Scientific and Technical
Education Society and the company, i.e., GFIL for running the Golden
Public School.
12.The Committee in its order dated 18.2.2009 has
found noted that the
society did not come forward and move any such application and
therefore,
I.A. preferred by the school was liable to be dismissed on the ground
alone. That apart, the Committee went into the merits of the claim of
the school. Vide order dated 18.2.2009, it is inter alia observed that
the restraint order was passed by SEBI on 09.1.1998 prohibiting the
alienation of the properties of the company and therefore, it was not
open to the company to lease the land after 09.1.1998 and thus, lease
deed dated 12.3.1998 was in contravention of the aforesaid restraint
orders. It is also observed that the company and the society belong to
same family members, viz., Sayals. The Committee also studied the
documents available with it and observed that these documents reveal
that
the company as well as its subsidiaries had contributed heavy amounts in
construction of the school building.
13. From the aforesaid as well as other documentary evidence,
the
Committee has come to the conclusion that the school is, in fact,
owned
by the company GFIL. The contention of the school that building was
constructed with the donation mobilized by public and various business
houses was brushed aside and it was concluded that the entire set up
is
nothing but sham illegally which belongs to GFIL and its investors.
14.Neither the society nor the school have challenged the aforesaid
order dated 18.2.2009 by filing any proceedings.
15. After going through the order, we confirm the
same. CM stands
disposed of.
CM No.11269/2011 (by GFIL Committee for directions).
16. In this application following prayers are made:
(1)That the said Society and the Management Committee
of the School
may kindly be directed to allow the prospective purchaser(s)/bidder(s)
of
the School property to enter its premises in the company of the
officials/representatives of this Committee after the School working
hours for having a look into the same and not to put forward the said
illegal, invalid and void lease or any other lame excuse for dissuading
the prospective purchaser(s)/bidder(s) from coming forward with their
offer(s)/bid(s) for the School property.
(2)This Hon ble Court may pass any other order as may
be deemed
proper.
17.Mr. Dutta, learned Senior counsel appearing for the school submits
that the society/school shall not have any objection if any
prospective
purchaser(s)/bidder(s) want to inspect the school property by entering
the premises; however, it should be after the school hours so that the
functioning of the school is not disturbed. This is a reasonable
suggestion.
18. In these circumstances, we permit the prospective purchaser(s)/bidder(s) to visit the school premises/land for the
purpose of inspection after 1400 hrs. till 1900 hrs. The school authorities, teaching or other staff or any of the workers/representatives shall
not put any hindrance or interference to the said prospective purchaser(s)/bidder(s) who so visit the school property by themselves
or along with the representatives of the Committee for inspection of the site and shall also not dissuade the said purchaser(s)/bidder(s) from purchasing the property or from making offer thereof.
19. CM stands disposed of.
dated 20.1.2010 of the GFIL Committee)
20.Request for adjournment is made by Mr. Arora,
learned counsel for
the GFIL Committee. List on 19th March, 2012. Interim orders to
continue.
ACTING CHIEF JUSTICE
RAJIV SAHAI ENDLAW, J
FEBRUARY 06, 2012/pmc