The Court allowed an application under Section 151 of the CPC to extend time for paying the balance auction consideration amount. Considering the history of failed auctions and the purchaser's readiness to pay, the delay of 17 days was condoned.
Extension of time allowed to pay balance consideration; direction to execute sale deed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NC: 2024:KHC:7305 CA No. 25 of 2024 IN COP.No.2/2000
IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF FEBRUARY, 2024 BEFORE
THE HON'BLE MR JUSTICE ANANT RAMANATH HEGDE COMPANY APPLICATION NO. 25 OF 2024
IN
COMPANY PETITION NO.2 OF 2000
BETWEEN:
A STATUTORY CORPORATION ESTABLISHED UNDER RBI ACT 1934 HAVING ITS CENTRAL OFFICE AT CENTRAL OFFICE BLDG. SHAHID BHAGAT SINGH MARG, MUMBAI 400001 BRANCHES, NRUPATHUNGA ROAD, BANGALORE 560001
…APPLICANT
(BY SRI.MOHANA CHANDRA.P., ADVOCATE)
AND:
Digitally signed by A K CHANDRIKA Location: HIGH COURT OF KARNATAKA
…RESPONDENT
(BY SMT.KRUTIKA RAGHAVAN., ADVOCATE)
THIS APPLICATION IS FILED BY THE PROPOSED APPLICANT UNDER SECTION 151 OF CPC PRAYING TO EXTEND THE TIME FOR TWO WEEKS FROM 07.02.2024 FOR COMPLYING THE ORDER
NC: 2024:KHC:7305 CA No. 25 of 2024 IN COP.No.2/2000
DATED 10.01.2024 ON OLR 115/2023 PASSED IN THE ABOVE CASE IN THE INTEREST OF JUSTICE AND EQUITY.
THIS APPLICATION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
C.A.No.25/2024 is filed seeking extension of time to pay the balance consideration amount by the auction purchaser.
difficulty in condoning the delay of 17 days in paying the balance consideration amount, considering the history of failed auctions. Accordingly, C.A.No.25/2024 is
allowed .
NC: 2024:KHC:7305 CA No. 25 of 2024 IN COP.No.2/2000
Liquidator shall also handover the actual vacant
possession to the auction purchaser.
Sd/JUDGE
NC.
List No.: Sl No.:
1 issue framed by the court
Whether the delay in paying the balance consideration amount by the auction purchaser is condonable?
1 provisions across 1 enactments
Reserve Bank of India
Kirlokar Investments and Finance Ltd
Anant Ramanath Hegde
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
