High Court of Judicature at Allahabad
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M/s. Lodhi Cold Storage v. State of U.P. & Ors,. - WRIT - C No. 9307 of 2006  RD-AH 3549 (15 February 2006)
Hon'ble Dr. B.S. Chauhan, J.
Hon'ble Dilip Gupta, J.
This writ petition has been filed for quashing the auction sale notice dated 4th February, 2006.
The petitioner which is a Cold Storage situated at Bareilly had taken a loan from the U.P. Financial Corporation. However, it failed to deposit the amount of installments as a result of which the aforesaid action is being taken by the U.P. Financial Corporation.
We have heard learned counsel for the petitioner and Sri P.S. Baghel learned counsel appearing for the respondent Financial Corporation.
Sri Baghel, has pointed out that the total outstanding amount due against the petitioner as on 20th February, 2005 is Rs. 42.32 lacs. Learned counsel for the petitioner has, however, disputed the said amount.
After hearing learned counsel for the parties and in view of the peculiar facts and circumstances of the case, we are of the opinion that in the event the petitioner deposits 1/3rd of the total outstanding amount within a period of four weeks from today and makes an application before the U.P. Financial Corporation for fixing installments, the said application shall be considered by the U.P. Financial Corporation but the auction notice dated 4th February, 2006 shall be kept in abeyance and its fate shall be depend upon the decision on the representation. If the amount is not deposited by the petitioner within four weeks, it shall be open to the respondents to give effect to the auction notice.
Subject to the observations made above, the writ petition is disposed of.
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