Supreme Court of India · 2011-01-12
JAI ENTERPRISES vs AMBIKA ENTERPRISES .
- Citation / case number
- SC 2010/4947
- Court
- Supreme Court of India
- Petitioner
- JAI ENTERPRISES
- Respondent
- AMBIKA ENTERPRISES .
- Author
- R.V. RAVEENDRAN,A.K. PATNAIK, , ,
- Bench
- R.V. RAVEENDRAN,A.K. PATNAIK, , ,
Judgment text excerpt
The Supreme Court upheld the High Court's order dated 4.2.2010, which required the Trust to re-advertise the sale of property under Section 36 of the Bombay Public Trust Act, affirming that the initial sale price of Rs.1,26,09,000 was inadequate. The Court noted that the petitioner subsequently won an open auction with a bid of Rs.20.50 crores, thereby rendering the challenge to the High Court's order infructuous. The Court also ordered the refund of the deposit made by M/s. Rainbow Realtors (P) Ltd., as their bid was not confirmed.