M/S Satnam Agro
Industries & ANR Vs. State of Punjab & Ors  INSC 1725 (14 October
IN THE SUPREME COURT
OF INDIA CRIMINAL APPELLATE JURISDICTION CRIMINAL APPEAL NO.1607 OF 2008
(arising out of SLP(Crl.)No.5383 of 2006) M/S SATNAM AGRO INDUSTRIES & ANR.
....APPELLANTS VERSUS WITH CRIMINAL APPEAL NO. 1608 OF 2008 (arising out of
SLP(Crl.)....CRL.M.P.No.6707/2007) ORDER Delay condoned.
Heard learned counsel
for the parties.
This Court on 9th
September, 2008 has given a proposal to the counsel for the parties to the
effect that paddy/rice, which is a perishable item lying in the court custody,
be sold by public auction to be conducted by the court to avoid any further
loss and the sale proceeds be deposited in the court and the court shall keep
the said amount in a fixed deposit receipt in a nationalised bank to earn
interest on the said amount. But in the meantime, complaint filed by M/s.
Punjab State Civil Supplies Corporation Ltd. (in short 'PUNSUP') and
declaration suit ::2::
may continue and on
the end of the proceedings whosoever is found entitled shall get the sale
proceeds received by public auction along with interest accrued thereon. It was
made clear to all the parties that whosoever would be responsible for causing
loss should make good the difference of the actual amount minus the sale
proceeds to the other party along with interest as directed by the court.
Today, Mrs. Jayashree
Wad, learned counsel appearing for the PUNSUP, submits that the said proposal
for selling the paddy/rice by public auction is acceptable to the Corporation.
She further submits that the amount so recovered from the open auction shall
not be paid to the appellant without furnishing Bank Guarantee.
We have gone through
the judgment of the High Court impugned in this appeal. Looking to the facts of
the case and the controversy involved, we in the interest of both the parties
order that the peddy/rice presently lying in the court custody at Guruharsahai,
District Firozpur shall be put to public auction. Additional Chief Judicial
Magistrate, Firozpur shall conduct the public auction with the help of the
Collector of the District or any other officer authorised by the Collector,
after giving due publicity to the prospective auction purchasers as per the
procedure adopted by the concerned Executive Officer.
The sale proceeds
received from such auction, initially shall be paid to the appellant - M/s.
Satnam Agro Industries subject to the condition that the appellant-Firm shall
furnish bank guarantee for the said amount before the Additional Chief Judicial
Magistrate, Firozpur. The process of auction shall be finalised within six
weeks from this order. All rights and contentions raised by the parties before
us are left open for the decision of the appropriate authority in appropriate
proceedings. We hope that the civil suit and the criminal proceedings pending
in the respective courts shall be expeditiously decided.
The Criminal Appeals
are accordingly disposed of.
(LOKESHWAR SINGH PANTA)