Full Judgment
ORDER
SHEET ACR NO.2 OF 2014 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE IN THE MATTER OF: PASHUPATI ROY AND ORS.BEFORE: The Hon'ble JUSTICE SOUMEN SEN Date : 3rd September, 2014.
Appearance: Mr.Utpol Bose Sr.Adv.Mr.Nirmalya Dasgupta, Adv.Mr.Dibanath Dey, Adv.The Court : By this application the trustees seek leave to sell the land at premises no.57C, Barrackpore Trunk Road, Calcutta to meet the expenses of the school which was established pursuant to the trust deed of Jarat Coomary Dassee, who desired for establishment of a free school to impart free education to the children in the neighbourhood of the South Sinthi Cossipore and Baranagore area.
For such purpose, Gopeswar Dutt Free School was established and it was managed by a managing committee comprised of a special officer appointed by this Court, the petitioner No.1 and the Official Trustee.
From a student strength of 26, the strength has risen to 300 and this is due to the incentives introduced by the State Government and the Central government.
Monthly expenditure of Rs.3,25,000/- is to be borne for payment to the teaching and non-teaching staff and although there is a sum of Rs.11 lakhs and odd, 90% thereof pursuant to order of court has been invested in a fixed deposit.
The income from such fixed deposit is a paltry sum of Rs.7,573/-.
Therefore, to meet the expense of the school, the trustees who are the applicants herein seek to sell the excess land.
Though part of the school premises is not a requirement of the school as the school building is constructed on 14 cottah of land and there is an independent play ground for the children, the land sought to be sold is besides the school building and will not in any way prevent the running of the school.
On a previous occasion attempt was made to sell the property in question.
Mr.Utpol Bose learned Senior Counsel appearing on behalf of the petitioner submits that one Mr.Ranjit Daw had offered to purchase the property at the rate of Rs.35 lakhs per cottah but ultimately he did not turn up and conclude the transaction.
The Receiver had also received three other offers out of which Tirupati Project has given an offer of Rs.22,50,000/-.
However, considering the fact that it is a trust property and it is a duty of the Court to ensure that the property fetc.the highest price so that the object of the trust can be fulfilled, the Registrar, High Court, Original Side is directed to appoint an experience valuer from the panel of valuers who shall survey and value the property and file a valuation report to the Registrar, High Court Original Side in a sealed envelope to be placed before this Court on the returnable date.
The valuer/surveyor would be entitled to fix the reserve price on the basis of outright sale on as is where is basis.
Once that is done, the Receiver appointed would cause publication of an advertisement in two local dailies namely “Bartaman” (Sunday Edition) and “the Statesman” (English Edition).The gist of the publication shall be settled by the Registrar, High Court, Original side.
The offers received shall be subject to confirmation by this Court.
The said notice shall also contain a Clause requiring deposit of earnest money by bank draft and or pay order.
The matter shall appear on 31st October, 2014 at 2 p.m.for confirmation of sale.
Certified website copies of this order, if applied for, be urgently supplied to the parties subject to compliance with all requisite formalities.
(SOUMEN SEN, J.) sp/