General Terms and Conditions of Sale of The Immovable Property by The Court Receiver

General Terms and Conditions of Sale
of the Immovable Property by the

Court Receiver
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL
JURISDICTION
SUIT NO. OF 2004
ABC, of Mumbai, Indian Inhabitant,
residing at _____________________
____________________________
.. Plaintiff
Versus
XYZ, of Mumbai, Indian Inhabitant
residing at _______________________
________________________________
.. Defendant
PARTICULARS AND CONDITIONS OF SALE

Relating to the ownership of Flat No. ______ situate on the _____ floor of
building PQR APARTMENT at __________________________ to be put up for sale
by public auction by inviting offers by The Court Receiver, High Court, Mumbai at his
office on _____________________ at 12.00 noon at Bank of India Building, 2nd
floor, M.G.Road, Mumbai-400 023, in pursuance of the Courts Decree/Order dated
_____________ passed in the above suit. The said Flat is more particularly
described in the Schedule A hereto (hereinafter referred to as the said flat).
1.
The Court Receiver, High Court, Mumbai as Receiver appointed in the above
suit will sell by public auction the said Flat on ___________ at 12.00 noon
at his office at Bank of India Building, 2nd floor, Mahatma Gandhi Road,
Fort, Mumbai - 400 023. The Intending Purchasers are required to send
their respective offers in sealed covers so as to reach the same to the Court
Receiver at his office by 4 p.m. on or before ______________ alongwith the
Demand Draft or Bank Pay Order of Rs. 25,00,000/- (Rupees Twenty five
lacs only) payable at Mumbai and drawn in favour of The Court Receiver,
High Court, Mumbai, as a deposit for participating in the auction of and for
purchase of the said Flat.
2.
The Intending Purchasers are also required to attend the auction sale at the
meeting fixed on ________________ at 12.00 noon before the Court
Receiver, High Court, Bombay at his office and they will be allowed to bid
amongst themselves and the highest bidder shall be declared to be the
purchaser subject to his bid or offer being sanctioned by the Honble Court.
The Court Receiver will have the right either to accept or reject any offer
without assigning any reason whatsoever. In the event of his offer being not
accepted, the said deposit for participating in the auction will be returned to
the
respective
interest thereon.
bidders
by
The
Court
Receiver
without
3.
Inspection of the said Flat will be given to the Intending Purchasers on

________ at site between 12 p.m. and 4 p.m.
4.
The sale is subject to the sanction by the Honble High Court, Mumbai.
5.
The highest bidder (hereinafter referred to as the Purchaser) whose bid

is accepted by The Court Receiver shall deposit 25% of the amount of
purchase
price
within
7 days as earnest money with The Court Receiver and sign a Memorandum
of Agreement in the form subjoined and shall also complete the purchase
within 30 days from the date of sanction of the said sale by the Honble
Court and they will have to take possession of the said flat from the Court
Receiver at their own cost.
6.
The Purchaser shall at the time of sale subscribe his name and address in
the bidding papers and all communications and summons shall be deemed
to be duly delivered to and served upon the purchaser if left for him at such
address, unless or until he is to the specific knowledge of the Court Receiver
represented by an Advocate/s in which case service of such notices on such
Advocate/s shall be deemed to be sufficient.
7.
The Purchaser shall purchase the said Flat on as is where is basis and
in such condition as the same may be at the time of sale. If the area of the
said flat is found less or inaccurate, the purchaser shall not be entitled to
object to the same. The Court Receiver does not warrant the accuracy of the
description of the said Flat.
8.
The Purchaser shall pay the balance of the Purchase money to The Court
Receiver, High Court, Mumbai within 30 days from the date of sanction of
the sale by the Honble Court. The Purchaser shall not be entitled to delay
the payment of the balance price on any ground whatsoever and the same
shall be paid even if the execution of documents of transfer is delayed.
9.
If the Purchaser fails to pay the balance of the purchase price in the manner
and within the time specified by The Court Receiver or fails to perform any
of the terms and conditions provided herein, The Court Receiver, High Court,
Mumbai shall be at liberty to forfeit the earnest money and proceed to resell the said Flat by public auction in the manner The Court Receiver deems
fit and proper and the deficiency in price, if any, occasioned by such re-sale
and the costs thereof shall be made good by the defaulting Purchaser with
interest on the amount of deficiency at 15% per annum from the expiration
of seven days from the date of aforesaid sanction of sale till payment and in
case of non-payment of the whole or the balance of such sum, the same
shall
be
recoverable
by
The Court Receiver or the Plaintiff from the said defaulting Purchaser as and
by
way
of
liquidated
damages,
while
any
profit
on
such
re-sale
shall
not
belong
to
such
defaulting purchaser.
10. The Purchaser shall not be liable to pay the outgoings in respect of the said
flat previous to the payment of the purchase money, and the same shall be
apportioned, if necessary. The Purchaser shall at his own expenses take

such steps as may be necessary for the purpose of obtaining possession of
the said Flat from The Court Receiver within one week from the date of the
payment of balance of the purchase price to The Court Receiver. The
Purchaser shall bear and pay his own costs throughout and shall not look to
the Court Receiver or the Plaintiff for the same or any
part thereof.
11. Upon payment of the purchase price in full and all costs, charges and
expenses mentioned above, the Purchaser shall be entitled to a Deed of
Transfer and or other document of transfer of the said flat in his favour from
the Court Receiver. Such documents of transfer shall be prepared by the
Purchaser at his own cost and efforts and would be executed by The Court
Receiver as the Receiver of the said Flat and the Purchaser will not be
entitled to call upon any other person whether the defendant or the Plaintiff
to execute the same. Such documents of transfer will be approved, finalised
and settled at the meeting before the Court Receiver. The Court Receiver
shall execute such documents of transfer in favour of the Purchaser or the
nominee/s of the Purchaser. The Payment of transfer fees, stamp duty,
registration charges, etc., and all other incidental expenses of transfer shall
be borne and paid by the Purchaser.
12. The documents of transfer of the said Flat shall be prepared by the
Purchaser and delivered to The Court Receiver within one calender month of
the
date
of
sanction
of
the
sale
by
the Court.
13. The description of the said flat is believed to be correct and shall be taken
as correct. Neither any error or mis-statement in the said description shall
be the ground to annul the sale nor the Purchaser can be discharged from
his purchase and/or his obligations. The Purchaser shall not be entitled to
annul the sale on any ground whatsoever. The Purchaser shall not be
entitled for any compensation on that account or otherwise.
14. In case the sale of the said flat is not sanctioned or it is set aside, the
Purchaser shall be only entitled to receive back his deposit or earnest
money as the case may be without interest and shall in no case or
circumstances will be entitled for any costs, charges, compensation and/or
damages.
15. The said flat shall remain and be at the sole risk of the purchaser in all
respects including loss or damages by fire or theft or other accident and
other
risks
after
the
expiry
of
two weeks from the date of the confirmation of sale by the Honble Court.
16. The Purchaser shall be liable to pay all local and other cesses, duties and
taxes, if any, in respect of and/or affecting the property herein for which he
has given the offer.
17. The Court Receiver will give no covenant other than the usual covenants
against encumbrances limited to act and things done by the Court Receiver
or to which he has been a party.
18. The Purchaser will admit the facts arising out of this suit and proceedings
and
will
not
raise
any
objection
to
the
sale
on
that ground.
19. The time hereunder fixed for the observance and performance by the
Purchaser of any of the obligations to be observed and performed by him

under these conditions is and shall be deemed to be the essence of the
contract and any forbearance on the part of the Court receiver to the strict
observance and performance by the Purchaser thereof shall not be
construed as a waiver or relinquishment on the part of the Court Receiver
who shall have the right at his option despite thereof to exercise his right
and remedies such as are available to his under these conditions and at law
and/or in equity as arising from the non-observance and non-performance
thereof including the right to forfeit all the moneys paid by the purchaser
treating the contract for sale as having been determined by the Purchaser.
20. All the permissions, sanctions and approvals (if any) required for transfer of
the said flat under various provisions of law shall be obtained by the
Purchaser at his own cost and efforts.
SCHEDULE A
Description of the Flat
Flat No._______ situate on the ______ floor of the building PQR APARTMENT
situate at ____________________________________________ admeasuring
______ sq.ft of built up area approximately consisting of two bedrooms, a hall and a
kitchen.
Place:
Date:
(THE COURT RECEIVER)

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General Terms and Conditions of Sale

of the Immovable Property by the

PARTICULARS AND CONDITIONS OF SALE

Inspection of the said Flat will be given to the Intending Purchasers on

The highest bidder (hereinafter referred to as the Purchaser) whose bid

apportioned, if necessary. The Purchaser shall at his own expenses take

Purchaser of any of the obligations to be observed and performed by him

(THE COURT RECEIVER)

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