Court initiate auction process of Rohtas group of industries

By Staff
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Google Oneindia News

Patna, Nov 30 (UNI) Patna High Court today initiated the auction process for the sale of the ailing Rohtas Group of Industries to private parties.

A single bench of the court of Justice V N Sinha directed the bidders to submit at least 20 per cent of the bidding amount proposed by them.

Later two private bidders namely Mumbai based I B Enterprises and Jhunjhunwala Vanaspati of Banaras separately proposed the bidding amount upto Rs 125 crore. On the direction of the court, the I B Enterprises deposited a draft of Rs 10 crore while another bidder Jhunjhunwala deposited a draft of Rs five crore.

The Judge further kept the doors open for another bidder saying that any company interested to purchase Rohtas industry might deposit at least 25 per cent of the bidding amount proposed by them on the next date of hearing fixed for December 7.

The Judge said the auction would be finalised on the next date of hearing.

Meanwhile, another court of Justice Shyam Kishore Sharma rejected the regular bail application of former RJD MLA from Atri Rajendra Yadav in connection with an abduction case. Mr Yadav, husband of Kunti Devi, MLA from Atri, had abducted two persons from Gaya district in 2005.

Hearing a case, the court of Justice Ghanshyam Prasad dropped the quashing petition filed by the controversial RJD MP Md Shahabuddin. Through the petition, the MP had requested the court to quash the order of a local court of Siwan, which had directed him to appear before it when he was undergoing treatment in Delhi.

The court dropped the petition as the MP had already been shifted to Siwan jail.

UNI XC-RS JYN SRS HT2004

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