in circumstances and while appellant before us came to be the successful bidder at the auction conducted by the corporation and offered an amount of Rs.4.33 Crores, the Corporation while initially inclined to accept the said offer, a resile from its stand during the pendency of the writ petition before this Court and taking note of the possibility of not getting a reasonable amount for the property on account of the pending litigation, passed a resolution dated 4.12.2013 Ext.R1(a) resolving to accept the offer of the mortgager for Rs.2.33 Crores. This was followed by the resolution dated 16.6.2014 Ext.R1(b), which resolved to accept the amount from the mortgager as per the norms of compromise settlement of the Corporation in the pending court cases in other disputes were settled amicably by the mortgager within two weeks of the permission granted by the Court. In the judgment impugned before us, the learned Single Judge has taken note of the aforesaid facts and recorded the submissions of the Corporation that they are ready to go ahead with the terms and conditions entered into in accordance with Ext.R1(b) resolution and the further submission of the 3rd respondent that he is ready to wipe of the loan liabilities in accordance with the said terms and pay the entire amount to the Corporation, within a period of three months from the date of receipt of a copy of the judgment.
