appointed as a receiver in respect of cargo containing 17000 MT of coal. A further direction was given to the Court Receiver to sell the coal in public auction. An option was also given to the Appellants to bring buyer and it was mentioned in the order that if the bid given by the said buyer is the highest bid, the coal was to be sold the said buyer and the sale proceeds were to be deposited in this Court and invested in a nationalised bank. Two attempts were made to sell the coal. However, both these attempts failed. Thereafter again an advertisement was issued for the purpose of sale of said coal by public auction. The Appellants have given an offer. In the offer, they have stated that they will not pay the customs duty, whereas one bidder Global Coal Ventures Pvt. Ltd. gave a higher offer than the Appellants, which included the customs duty, which was payable. In view of this offer, their bid was accepted. Under these circumstances, the report of the Court Receiver is accepted in terms of prayer clauses (a) and (b). The sale proceeds was to be deposited in this Court. The Court Receiver is permitted to deduct his charges of commission. The Court Receiver's Report is accordingly disposed of.
