The sale was companyfirmed in his favour on August 29, 1990.
While disposing of the appeal, the Division Bench has pointed out that the sale was vitiated due to the manner in which the single Judge dealing with Company Law matters, passed the orders in his Chamber by observing thus It would be sufficient for this companyrt, if we make our observations to deprecate the way His Lordship took up the matter on various dates subsequent to the passing of the decree and sought to pass various orders relating to sale of the property in favour of the intending purchaser Nani Gopal Paul and others at a price of Rs.60 lakhs, when there were other offers on the field of a higher denomination and magnitude.
On appeal, while impleading them, the Division Bench directed the single Judge to hear the respondents before they are ejected from the property in question by order dated 2.3.92 which is the subject matter of this appeal.
Thereafter respondents No.1 and 2 were sought to be impleaded to the suit but denied by the single Judge.
Leave granted, In Suit No.
2 of 1966 filed by Unite Bank of India against Hanuman Foundrie Ltd. for foreclosure and sale of hypothicated property, pursuant to a preliminary decree, the companyrt receiver sold the hypothica at which the appellant became highest bidder for Rs.60 lakhs and he paid a sum of Rs.5 lakhs.
