O R D E R In this special leave petition the Petitioner has impugned the judgment and order of the High Court of Bombay at Goa dated February 22, 2006 in Civil Writ Petition No.19 of 2006, whereby it dismissed the Writ Petition filed by the Petitioner praying that its proposal companytained in letter dated January 18, 2006 be companysidered and that Respondent No.1, herein, be restrained from selling the assets in question to Respondent No.3.
It appears from the letter of February 6, 2006 addressed to Managing Director of Respondent No.1 that the offer referred to in the letter of the Petitioner dated January 18, 2006 related to M s Condor Polymeric.
By its letter of February 6, 2006, Condor Polymeric made a formal offer to the Managing Director of Respondent No.1.
On January 23, 2006, the Petitioner filed a writ petition before the High Court praying for a Writ of Mandamus directing Respondent No.1 to companysider the proposal companytained in the letter of the Petitioner dated January 18, 2006 and to restrain the Respondent No.1 from selling the property to Respondent No.3.
On December 29, 2005, Respondent No.1 informed the Petitioner that it was decided to accept the offer of Respondent No.3 to which the Petitioner objected by saying that the price was ridiculously low.
This is an event subsequent to the filing of the Writ Petition.
However, the Petitioner was informed of the private offer by Respondent No.3 and was called upon to get a better offer, if possible, within three days.
In its reply the Petitioner sought twelve months time to arrange a better buyer.
On December 12, 2005 the offer of Respondent No.3 was accepted by Respondent No.1 and the same was companymunicated to Respondent No.3 incorporating the relevant companyditions for the sale.
The letter of Respondent No.1 dated December 5, 2005 to this effect was perhaps received by the Petitioner late on December 13, 2005.
The offer of Respondent No.3 was companysidered by the Board of Respondent No.1 on December 5, 2005 and the Board resolved to accept the offer on certain companyditions.
We have heard companynsel for the parties at length.
The High Court by its impugned judgment and order dismissed the writ petition holding that Respondent No.1 had already entered into an agreement with Respondent No.3 for the sale of the assets for a sum of Rs.12.99 crores and, therefore, there was numberquestion of the same being cancelled or set aside since it represented a companycluded companytract between the parties.
On November 23, 2005, Respondent No.3, namely, L.K. Trust made an offer of Rs.12.99 crores for the property in question.
