@JUDGMENTTAG-ORDER
P.K. Deb, J.@mdashThe writ Petitioners have come up seeking direction/appropriate writ on the Respondent B.S.F.C. Corporation for granting
permission to sell the business unit of the Petitioners namely, M/s Eastern India Breweries (P) Ltd. as the Petitioners were not in a position to pay
up the outstanding dues of the B.S.F.C. and not in a position to run the business because of the loss incurred by the Petitioners for the wrong
committed by the B.S.F.C. in purchasing of another Brewery Unit in the State of Bihar.
2. The admitted position remains that the Petitioner established the Brewery by taking term loan from the Respondent/Corporation. The term loan
was to the tune of Rs. 18.08 lakhs although according to the Petitioners payments were made only to the tune of Rs. 11.50 lakhs. While the
Petitioner was running the business then mortgaged assets of a similar business of one M/s Orient Beverages had been auctioned by the
Respondent/Corporation u/s 29 of the B.S.F.C. Act. The Petitioners filed tender and as the tender of the Petitioners were found to be reasonable,
the same was accepted but the documentation was not complete and, as such, the Petitioners had moved this Court. The original Petitioner of M/s
Orient Beverages Ltd. had moved Calcutta High Court and there were various litigations in the matter which were not necessary to be reiterated
for disposal of this present writ petition. This much can be said that the dispute went up to the Apex Court and it remains a fact that although
tender of the Petitioner was accepted but the assets of M/s Orient Beverages Ltd. could not be sold to the Petitioner and the amount which the
Petitioner had. already deposited with the B.S.F.C. for purchase of that unit had also not been returned and in that way a writ petition was decided
by a single Judge of this Court for which L.P.A. has been filed and the said L.P.A. being L.P.A. No. 1581 of 1995 is now pending before this
Court. Accounting shall be made as per decision in that L.P.A. and the outstanding dues should also be decided only on a decision being arrived at
in the L.P.A. but the fact remains that the B.S.F.C. has got outstanding dues against the Petitioner and to overcome that the Petitioner wants to sell
out the unit, namely, Eastern India Breweries (P) Ltd. to an intending purchaser and ha could get a purchaser, namely, Shailendra Kumar who had
given an offer of Rs. 25.00 lakhs for purchasing the unit. To get an idea as to how much worth the unit is at present the B.S.F.C. was asked to
make a valuation in presence of the Petitioner but it appears that due to water logging such valuation could not be made but on assessment
according to the B.S.F.C. it was found to be worth rupees more than 60 lakhs. On the other hand another valuation report which was made by the
B.S.F.C. itself through its official showed valuation to be about Rs. 18 lakhs and odd. Be it what it may as the Petitioner does not want to proceed
further with the business and wants to get rid of it and also the burden of loan and when the money of the B.S.F.C. is an exchequer money I do not
find why a permission should not be granted to sell the mortgaged unit to intending purchaser and the consideration thereof should be immediately
deposited with the B.S.F.C. The only contention of Mr. Shrawan Kumar, learned senior counsel appearing for and on behalf of the B.S.F.C. is
that when the valuation is on the higher side then it ought, not to have sold to the private party rather a direction should be given to the B.S.F.C. to
sell it under Sections 29/30 of the B.S.F.C. Act. I could not find much force in such submission because the mortgage property is being sold to the
private party i.e. Shailendra Kumar who has also submitted an affidavit as an intervenor showing his intention to purchase the same and also
according to him the valuation cannot be more than 25 lakhs because of water logging in the area and also the unit being situated in the residential
area and when the Petitioner had given an undertaking to the effect that the balance dues shall be paid by him as and when calculation became
final. Moreover if the balance amount of calculation is found to be in favour of the B.S.F.C. and such amount is not paid by the Petitioner then also
the B.S.F.C. shall be at liberty to proceed with the provisions of Sections 29/30 of the Act in respect of the unit itself.
3. In that way this writ petition is hereby allowed directing the B.S.F.C. not to raise objection in selling of the unit of the Petitioner to Mr.
Shailendra Kumar Intervenor on a consideration of Rs. 25 lakhs and such consideration amount shall be directly paid to the B.S.F.C. itself by a
bank draft and the Petitioner while executing that document shall also execute a bond in the form of undertaking in favour of the B.S.F.C. to pay
the balance dues as and when calculation becomes finalised in respect of the unit itself to the B.S.F.C. The sale procedure should be completed
within one month next and after draft of the sale deed is being prepared that should be vetted by the B.S.F.C. regarding the proper mentioning of
the mortgaged and charged assets of the unit itself in the documentation.
4. The writ petition is disposed of accordingly.