M/S. INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ORISSA LIMITEDversusM/S. TUOBRO FURGUSON STEELS PRIVATE LIMITED & OTHERS

              [2011] 13 (ADDL.) S.C.R. 445


   M/S. INDUSTRIAL PROMOTION AND INVESTMENT                   A
          CORPORATION OF ORISSA LIMITED
                             v.
M/S. TUOBRO FURGUSON STEELS PRIVATE LIMITED &
                      OTHERS
           (Civil Appeal No.1850 of 2007)                     B
                   DECEMBER 5, 2011
 [AFTAB ALAM AND RANJANA PRAKASH DESAI, JJ.]

      State Financial Corporation Act, 1951: s.29 - Contract C
of sale -Corporation took over a Foundry Unit after its original
promoters defaulted in payment of its dues - Publication of
advertisement for sale of Unit - Sale of Unit to respondent
on down payment of Rs. 8 lacs - Balance amount of Rs.32
lacs was to be paid on installments - However, after taking D
possession of the Unit, respondent did not take steps to
complete the documentation as required in the sale letter -
Notice issued uls.29 to respondent and assets of the Unit
taken over by the Corporation - Writ petition by respondent
- High Court directed the Corporation to refund to the E
respondent Rs. 8 lacs along with interest - On appeal, held:
High Court did not even refer to the sale advertisement,
stipulations made in the sale Jetter and correspondences
 between the parties and completely overlooked that the
parties, with their eyes widely open, had entered into the F
 contract for sale of the Unit which was subject to the terms and
 conditions clearly spelled out in the advertisement and in the
 sale letter; that in furtherance of the contract, payment was
 made and possession of the Unit changed hands - Both
 sides had acted on the basis of the contract, changing their G
 respective positions and assuming rights and obligations
 against each other - The contract having been acted upon,
 it could not be unilaterally abrogated on the sweet will of any
 of the two sides - Jn terms of the contract, the respondents
                            445                                H
    446    SUPREME COURT REPORTS [2011) 13 (ADDL.) S.C.R.


A were obliged to pay the balance consideration amount of
  Rs.32 lacs along with interest as provided in the sale letter -
  In default of payment, it was the statutory right of the
  Corporation to take possession of the Unit uls. 29 of the Act
  - Corporation had not only the right to retain Rs. 8 lacs paid
B to it as part consideration but also to realise the balance
  amount of consideration, in accordance with law - Order of
  the High Court not sustainable.

       The appellant-Corporation took over a Foundry Unit
C situated along with land, building, plant and machineries
  under Section 29 of the State Financial Corporation Act,
  1951, as its original promoters defaulted in payment of its
  dues. The taken-over Unit was put to sale by publishing
  advertisement in newspapers inviting offers for purchase
  of the Unit. In the advertisement, it was stipulated that the
D sale would be on 'AS IS WHERE IS' basis. The intending
  purchasers were allowed inspection of the Unit-on-sale.

         In response to the advertisem1mt, the respondents
    made an offer to purchase the Unit for a total
E   consideration of Rs.40,00,0001- with down payment of
    Rs.8,00,0001-. The offer made by the respondents was
    accepted and the Corporation issued the sale letter. It
    was stated in the sale letter that possession of the Unit
    would be handed over to the respondents on payment
F   of Rs.8,00,0001- and the balance amount of Rs.32,00,0001
    - would be treated as fresh loan to respondent no.1 to be
    repaid within a period of 6 years in quarterly instalments
    after a moratorium of 18 months with interest at the rate
    of 18 per cent per annum from the date of handing over
G   the physical possession of the Unit. The sale formalities
    were required to be completed within 30 days from the
    date of issue of the letter. It was further stipulated in the
    letter that the sale would lapse and the earnest money
    forfeited if the documents were not executed within the
H   prescribed time.
   INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v.    447
         TUOBRO FURGUSON STEELS PVT. LTD.
        In furtherance of the sale, respondents made A
   payment of Rs.8,00,000/- to the appellant and following
·- the payment, possession of the Unit was made over to
   respondents .. Before the delivery of possession, the
   Director and other technical persons of the respondent
   company verified/compared the assets with the inventory B
   of assets item-wise and thereafter, took over possession
   of the assets in presence of officers of the Corporation,
   OSFC and 581 and the security personnel.

       After taking possession of the Unit, the respondents
  did not take any step to complete the documentation with C
  IPICOL and OSFC as required in clause 7 of the sale
  letter. The appellant then wrote number of letters asking
  the respondents to execute the documents/loan
  agreement with the Corporation and with the. OSFC. The
  respondents, however, went on temporising in the matter. D
  Instead of executing the necessary documents, the
  respondents wrote to the appellant complaining about
  the high rate of interest and requesting to lower it down.
  The respondents also made the complaint that the
   machineries were in very bad shape and were required E
  to be replaced and unless the issue of the rate of interest
  was resolved, it was not possible to start the operation
   of the factory. The respondents also complained about
   the difficulty in getting loans from the bank or other
   financial institutions and asked the appellant whether it F
   would give its consent to creation of pari passu or
   second charge as security for the loan amount advanced
   by the financial institutions. It also complained about the
   electricity dues and sought the intervention of the
   appellant to resolve the difficulties being faced by it.    G

      The appellant-Corporation once again wrote to
  respondents asking them to pay the over due interest of
  Rs.3,51,445/- as on March 31, 2000 and to execute the
  necessary documents. The respondents did not make
                                                              H
    448 SUPREME COURT REPORTS [2011] 13 (ADDL.) S.C.R.

A any payment nor did they take any step to complete the
   documentation. Instead, by letter dated July 20, 2001, they
   asked the appellant to take back the Unit stating that from
   July 31, 2001, they would withdraw the security personnel
   engaged by them in the factory premises which was till
8 that date under their control. The appellant issued notice
  under Section 29 of the State Financial Corporation Act,
  1951 to respondents and took over the assets of the Unit.
  The respondents filed a writ petition before the High Court
  challenging the taking over of the assets by the appellant.
C The High Court allowed the writ petition and directed the
  Corporation to refund to the respondents Rs.8,00,000/
  along with interest at the prevailing bank rate that was
  received by it as part of the sale consideration. The
  instant appeal was filed challenging the order of the High
  Court.
D
       Allowing the appeal, the Court

       HELD: 1. The case of the respondents, as noted by
  the High Court was untenable on its face. Even according
E to the respondents it was only after having taken
  possession of the Unit that they found that some vital
  parts of the machineries were missing and there were
  huge arrears of electricity dues and that the
  recommendation for the industrial policy resolution was
  not forthcoming. In those circumstances, the
F respondents realised that the Unit was not worth
  Rs.40,00,000/·. The respondents went to the High Court
  seeking refund of the part consideration money
  Rs.8,00,000/- paid by them as if the antecedent acts of the
  parties, namely, the issuance of the advertisement, the
G offer made by the respondents followed by negotiations
  between the parties and the issuance of the sale letter by
  the Corporation, the payment of Rs.8,00,000/· by the
  respondents in pursuance of the sale letter followed by
  their taking over the possession of the Unit meant
H
 INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v.    449
       TUOBRO FURGUSON STEELS PVT. LTD.
nothing and did not create any rights or obligations in the A
parties. Strangely, the High Court did not even refer to the
sale advertisement, the stipulations made in the sale letter
and the correspondences between the parties. The High
Court completely overlooked that the parties, with their
eyes widely open, had entered into the contract for sale B
of the Unit which was subject to the terms and
conditions clearly spelled out in the advertisement and
in the sale letter; that in furtherance of the contract,
payment was made and possession of the Unit changed
hands. In other words, both sides had acted on the basis c
of the contract, changing their respective positions and
assuming rights and obligations against each other. The
contract having been acted upon, it could not be
unilaterally abrogated on the sweet will of any of the two
sides. In terms of the contract, the respondents were
                                                             0
obliged to pay the balance consideration amount of
 Rs.32,00,000/- along with interest as provided in the sale
 letter. In default of payment it was the statutory right of
 the appellant-corporation to take possession of the Unit
 under Section 29 of the Financial Corporation Act. In the E
 aforesaid facts·and circumstances, there was no ground
 for the High Court, to interfere in favour of the
 respondents, much less to directfor refund of the part
 consideration money paid by the respondents to the
 appellant. [Paras 11-13] [456-A-H; 457 -A-B]
                                                            F
     2. The question of forfeiture of the earnest money
would arise in case the parties had not acted upon in
furtherance of the sale letter but the matter in this case
went much beyond that stage. The parties agreed for the
sale of Unit for an amount of Rs.40,00,000/- out of which G
the respondents were required to make a down payment
of Rs.8,00,000/-, which they did. On payment of the part
consideration monet, the possession of the Unit was
made over to them. ~he respondents were, thus, under
the legal obligation to pay the balance consideration of H
     450   SUPREME COURT REPORTS [2011] 13 (ADDL.) S.C.R.


A Rs.32,00,000/- in instalments and along with interest, as
  stipulated in the letter. The Corporation had, therefore,
  not only the right to retain Rs.8,00,000/- paid to it as part
  consideration but also to realise the balance amount of
  consideration, in accordance with law. The order of the
B High Court is completely unsustainable. [Paras 14, 17]
  [457-0-G; 458-E]

        /sha Marbles vs. Bihar State Electricity Board & Anr.,
    (1995) 2 sec 648 - relied on.

C       Haryana Financial Corporation v. Rajesh Gupta (2010)1
    SCC 655; V.K.Ashokan v. Assistant Excise Commissioner
    (2009) 14 sec 85 - held inapplicable.

                          Case Law Reference:
D        (1995) 2 sec 648          relied on              Para 15
         (2010)1 sec 655           held inapplicable      Para 17
         (2009) 14 sec 85          held inapplicable      Para 17

E       CIVIL APPELLATE JURISDICTION : Civil Appeal No.
    1850 of 2007.                       •

         From the Judgment and Order dated 29.06.2006 of the
    High Court of Orissa at Cuttack in Writ Petition (Civil) No. 1556
    of 2003.
F
         Raj Kumar Mehta, Antaryami Upadhyay and Dal(id A. for
    the Appellant.

      Shrish Kumar Mishra and Ajay Kr. Singh for the
G Respondents.
        The Judgment of the Court was delivered by

       AFTAB ALAM, J. 1. This appeal, at the instance of Mis
  Industrial Promotion and Investment Corporation of Orissa
H Limited ("Corporation" for the sake of brevity), is directed
  INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v. 451
 TUOBRO FURGUSON STEELS PVT. LTD. [AFTAB ALAM, J.]
against the judgment and order dated June 29, 2006 passed A
by a Division Bench of the Orissa High Court. By the impugned
judgment, the High Court allowed the Writ Petition'(W.P.(Civil)
No.1556/2003) filed by respondent Nos.1 & 2 (M/s Tuobro
 Furguson Steels Private Limited and its Director) and undoing
 a contract of sale of an Industrial Unit entered into between the B
 parties, directed the appellant to refund Rs.8,00,000/- (Rupees
 Eight Lacs), that was paid by the respondents to the appellant
 as part of the sale consideration, together with simple interest
 at prevailing rates of interest of the State Bank of India on
 deposits made by customers during the relevant period.
                                                                   c
      2. The facts relevant to appreciate the rival contentions of
the parties are brief and may be stated thus. A Foundry Unit
situated at Ganeswarpur Industrial Estate, Balasore, by the side
of NH-5, along with land, building, plant and machineries was
taken over by the Corporation under Section 29 of the State D
Financial Corporation Act, 1951, as its original promoters
namely, M/s Josna Casting Centre, defaulted in payment of its
dues. The taken-over Unit was put to sale vide advertisement
dated February 8, 1999 issued in Oriya and English
newspapers inviting offers for purchase of the Unit. A copy of E
the sale advertisement is at Annexure P1 which gives a
 complete description of the Industrial Unit along with all the
 relevant details. It is significant to note that in the advertisement
 it was stipulated that the sale would be on 'AS IS WHERE IS'
 basis. Further, the intending purchasers were allowed F
 inspection of the Unit-on-sale from February 16 to 27, 1999.

    3. In response to the advertisement the respondents made
an offer (revised by letters dated April 12, 1999 and August 5,
1999) to purchase the Unit for a total consideration of G
Rs.40,00,000/- (Rupees Forty Lacs) with down payment of
Rs.8,00,000/- (Rupees Eight Lacs). The offer made by the
respondents was considered by the Advisory and Disposal
Committee of the Corporation, and in acceptance of the offer,
the Corporation issued the sale Jetter dated September 10,
                                                                H
     4?2 SUPREME COURT REPORTS [2011] 13 (ADDL.) S.C.R.

.A 1999. A copy of the sale letter is at Annexure P2. In the sale
     letter it was stated that possession of the Unit would be handed
     over to the respondents on payment of Rs.8,00,000/- (Rupees
     Eight Lacs) and the balance amount of Rs.32,00,000/- (Rupees
     Thirty Two Lacs) would be treated as fresh loan to respondent
 B no.1 to be repaid within a period of 6 years in quarterly
     instalments after a moratorium of 18 months with interest at the
    rate of 18 per cent per annum from the date of handing over
    the physical possession of the Unit. The sale formalities were
    required to be completed within 30 days from the date of issue
 C of the letter. It was further stipulated in the letter that the sale
    would lapse and the earnest money forfeited if the documents
    were not' executed within the prescribed time. In clause 2 of the
    letter it was once again repeated that the sale was on "AS IS
   WHERE IS" basis and no further claim in that respect would
   be entertained by the Corporation. In clause 5 it was stated that
 D the sale of fixed assets was free from liabilities other than the
   deferred payment of loan of Rs.32,00,000/- (Rupees Thirty Two
   Lacs) with interest as stated in the earlier paragraph of the
   letter. Clause 8 made it clear that the sale did not pre-suppose
   sanction of any additional loan in favour of the purchaser for
E operation of the Unit. In clause 9 of the letter it was stated that
   though the Corporation would recommend to all concerned to
   assist and help the buyer of the Unit (the respondents) but
   would not be in any manner responsible if any of the benefits
   were not granted to the Unit or if there was delay in grant of
F any of the benefits. It was expressly made clear that the denial
   of any benefits to the Unit by any financial organisation or any
   other body or delay in grant of any concession or benefit shall
   not be a ground for non-payment of the Corporation's dues.
G      4. In furtherance of the sale, respondents made payment
  of Rs.8,00,000/- (Rupees Eight Lacs) to the appellant and
  following the payment, possession of the Unit was made over
  to respondents on September 15, 1999. Before the delivery of
  possession, the Director and other technical persons of the
H respondent company verified/compared the assets with the
 INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v. 453
TUOBRO FURGUSON STEELS Pvr. LTD. [AFTABALAM, J.]
inventory of assets item-wise and thereafter, took over A
possession of the assets on September 15, 1999 in presence
of officers of the Corporation, OSFC and SBI and the security
personnel. The handing over of possession of the Unit was
witnessed by a 'Memo of Delivery of Possession of Assets'
executed both on behalf of the appellant and the respondent B
 company. A copy of "the Memo of Delivery of Possession of
Assets" is annexed as Annexure P-3 to the appeal memo.

      5. After taking possession of the Unit, the respondents did
not take any step to complete the documentation with IPICOL C
and Orissa State Financial Corporation as required in clause
7 of the sale letter. The appellant then wrote a number of letters
(on October 12, 1999, January4, 2000 and February28, 2000)
asking the respondents to execute the documents/loan
agreement with the Corporation and with the Orissa State
Financial Corporation. The respondents, however, went on D
temporising in the matter. Instead of executing the necessary
documents, the respondents wrote to the appellant complaining
about the high rate of interest and requesting to lower it down.
The respondents also made the complaint that the machineries
were in very bad shape and required to be replaced and unless E
 the issue of the rate of interest was resolved, it would not be
 possible to start the operation of the factory. The respondents
 also complained about the difficulty in getting loans from the
 bank or other financial institutions and asked the appellant
 whether it would give its consent to creation of pari passu or F
 second charge as security for the loan amount advanced by the
 financial institutions. It also complained about the electricity
 dues and sought the intervention of the appellant to resolve the
 difficulties being faced by it.
                                                                 G
      6. On March 24, 2000, the appellant - Corporation once
 again wrote to respondents asking them to pay the over due
 interest of Rs.3,51,445/- as on March 31, 2000 and to execute
 the necessary documents.

     7. The respondents did not make any payment nor did they    H
     454   SUPREME COURT REPORTS [2011] 13 (ADDL.) S.C.R.


A take any step to complete the documentation. Instead, by letter
   dated July 20, 2001, they asked the appellant to take back the
   Unit stating that from July 31, 2001, they would withdraw the
  security personnel engaged by them in the factory premises
  which was till that date under their control. On October 12, 2001,
B respondents informed the appellant that a theft had taken place
  in the factory premises which was at that time under their
  possession. On April 29, 2002, respondents once again wrote
  to the appellant that they would withdraw the security personnel
  if the assets were not taken over by the appellant within 15 days.
c Faced with the recalcitrant attitude of respondents, the
  appellant issued notice under Section 29 of the State Financial
  Corporation Act, 1951 to respondents and took over the assets
  of the Unit.

      8. On February 17, 2003, the respondents went to the High
D Court challenging the taking over of the assets by the appellant.

        9. On June 17, 2004, the appellant decided to sell the Unit
   along with its assets to Sun Agro Foods & Exports for a
  consideration of Rs.17,00,000/- (Rupees Seventeen Lacs) but
E could not hand over possession to the new buyer in view of the
  interim order passed by the High Court in the Writ Petition filed
  by the respondents. Finally, by the impugned order dated June
  29, 2006, the High Court allowed the Writ Petition filed by the
  respondents and directed the Corporation to refund to the
F respondents Rs.8,00,000/ (Rupees Eight Lacs) along with
  interest at the prevailing bank rate that was received by it as
  part of the sale consideration.

        10. The order of the High Court is brief and does not even
    advert to all the relevant facts as stated above.
G
          11. It took note of the case of the respondents-writ
    petitioners in the following manner:-
              "According to the petitioner, after taking possession
        of the said Unit, it found that because of missing of some
H
 INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v. 455
TUOBRO FURGUSON STEELS Pvt LTD. [AFTABALAM, J.]

   vital parts of the machines and machineries, huge arrear A
   electric dues and lack of grant of recommendation for l.P.R.
   the Unit does not worth Rs.40,00,000/- (Forty Lakhs) and,
   therefore, petitioner made correspondences with opposite
   party No.1 seeking reliefs on those accounts besides
   requesting to reduce the rate of interest on the differential B
    amount to be paid in instalments and that when opposite
    party No.1 turned a deaf ear to all such approaches and
    representations, petitioner opted to withdraw from the
    Industrial Unit and surrender the same in favour of
    opposite party No.1. With such assertion, petitioner has c
    filed the present writ petition with the prayer to issue a writ
    of mandamus directing opposite party No.1 to give the
    rehabilitation package (as mentioned in the prayer portion
    of the writ petition) or alternative to direct opposite party
     No.1 to return the amount of Rs.8,00,000/- (eight lakhs) D
    which was paid by it in September, 1999 with interest at
     the prevailing Bank rate."

The High Court then noted the stand of the Corporation that it
was not possible to give the rehabilitation package, as
requested by the respondents because they had failed to                E
adhere to the terms of the sale letter. Having noted the stand
of the Corporation, the High Court disposed of the Writ Petition
and passed the operative order in the following terms:-

            "Regard being had to the aforesaid facts and               F
     submission, we find that when opposite party no.1 is not
     intending to give rehabilitation assistance package as
     prayed for by the petitioner, therefore, it is appropriate that
     opposite party No.1 should refund the amount of
     Rs.8,00,000/- (eight lakhs) together with simple interest at      G
     prevailing rates of interest of the State Bank of India on
     deposits made by customers during the relevant period.
     The amount be worked out accordingly and be paid to the
     petitioner within a period of four months, failing which the
     entire sum shall carry compound interest therefrom."
                                                                       H
     456 SUPREME COURT REPORTS [2011] 13 (ADDL.) S.C.R

A We are unable to appreciate the order of the High Court and
  we see no basis on which such an order could have been
  passed. The case of the respondents, as noted by the High
  Court was untenable on its face. Even according to the
  respondents it was only after having taken possession of the
B Unit that they found that some vital parts of the machineries
  were missing and there were huge arrears of electricity dues
  and that the recommendation for the industrial policy resolution
  was not forthcoming. In those circumstances, the respondents
  realised that the Unit was not worth Rs.40,00,000/- (Rupees
c Forty Lacs).
         12. The respondents went to the High Court seeking
   refund of the part consideration money Rs.8,00,000/- (Rupees
   Eight Lacs) paid by them as if the antecedent acts of the
   parties, namely, the issuance of the advertisement, the offer
D made by the respondents followed by negotiations between the
   parties and the issuance of the sale letter by the Corporation,
  the payment of Rs.8,00,000/- (Rupees Eight Lakhs) by the
  respondents in pursuance of the sale letter followed by their
  taking over the possession of the Unit meant nothing and did
E not create any rights or obligations in the parties. Strangely, the
  High Court did not even refer to the sale advertisement, the
  stipulations made in the sale letter and the correspondences
  between the parties. The High Court completely overlooked that
  the parties, with their eyes widely open, had entered into the
F contract for sale of the Unit which was subject to the terms and
  conditions clearly spelled out in the advertisement and in the
  sale letter; that in furtherance of the contract, payment was
  made and possession of the Unit changed hands. In other
  words, both sides had acted on the basis of the contract,
G changing their respective positions and assuming rights and
  obligations against each other. The contract having been acted
  upon, it could not be unilaterally abrogated on the sweet will of
  any of the two sides. In terms of the contract the respondents
  were obliged to pay the balance consideration amount of
H Rs.32,00,000/- (Rupees Thirty Two Lacs) along with interest as
  INDUS. PROM. AND INVES. CORPN. OF ORISSA LTD. v. 457
 TUOBRO FURGUSON STEELS PVT. LTD. [AFTAB ALAM, J.]
provided in the sale letter. In default of payment it was the      A
statutory right of the appellant-corporation to take possession
of the Unit under Section 29 of the Financial Corporation Act.

    13. In the aforesaid facts and circumstances, there was no
ground for the High Court, to interfere in favour of the           8
respondents, much less to direct for refund of the part
consideration money paid by the respondents to the appellant.

       14. Before concluding, however, we must take note of the
submissions made by Mr. Shrish Kumar Misra, learned counsel
for the respondents, who tried to defend the order of the High C
Court. Mr. Misra submitted that the Corporation had no right to
forfeit the amount of Rs.8,00,000/- (Rupees Eight Lacs) paid
by the respondents as part consideration for the sale of the Unit
and at best they could forfeit the earnest money of Rs.50,000/
 - (Rupees Fifty Thousand) paid by the respondents while D
 making the offer to purchase the Unit. There is no substance
 at all in the submission. The question of forfeiture of the earnest
 money would have arisen in case the parties had not acted
 upon in furtherance of the sale letter but the matter in this case
 went much beyond that stage. The parties agreed for the sale E
 of Unit for an amount of Rs.40,00,000/- (Rupees Forty Lacs)
 out of which the respondents were required to make a down
 payment of Rs.8,00,000/- (Rupees Eight Lacs), which they did.
 On payment of the part consideration money, the possession
  of the Unit was made over to them. The respondents were, thus, F
 under the legal obligation to pay the balance consideration of
  Rs.32,00,000/- (Rupees Thirty Two Lacs) in instalments and
  along with interest, as stipulated in the letter. The Corporation
  had, therefore, not only the right to retain Rs.8,00,000/- (Rupees
  Eight Lacs) paid to it as part consideration but also to realise G
  the balance amount of consideration, in accordance with law.

      15. Mr. Misra next submitted that according to clause 5 of
 the sale letter the fixed assets of the Unit were free from
 liabilities other than the deferred payment of loan of
                                                                   H
    458    SUPREME COURT REPORTS (2011] 13 (ADDL.) S.C.R.


A Rs.32,00,000/- (Rupees Thirty Two Lacs) but in reality there
  were many dues, including dues of electricity, against the Unit.
  We find no substance in this submission either. According to
  us, there was no misrepresentation of facts in clause 5 or in
  any other clauses of the sale letter. As to the electricity dues, it
B may be noted that the decision of this Court in Jsha Marbles
  vs. Bihar State Electricity Board & Anr.,(1995) 2 SCC 648 had
  already come by the time the respondents took over the Unit
  and it was for them to take benefit of the decision of this Court.

        16. Mr.Misra also tried to seek support from two decisions
C of this Court (1) in Haryana Financial Corporation Vs. Rajesh
  Gupta (2010) 1 SCC 655, paragraphs 20 and 22 and (2) in
  V.K.Ashokan vs. Assistant Excise Commissioner (2009) 14
  SCC 85, paragraph 69. These two decisions have no
  application to the facts of the case and do not even slightly
D advance the case of the respondents.

       17. On hearing counsel for the parties and on going
  through the materials on record, we find, for the reasons stated
  above, that the order of the High Court is completely
E unsustainable. We, accordingly, set aside the impugned order
  and dismiss the writ petition filed by the respondents.

        18. In the result, the appeal is allowed with costs, quantified
   at Rs.10,0001- (Rupees Ten Thousand).

F D.G.                                              Appeal allowed.