Law:

Section:

Punjab Undesirable Cooperative Societies (Dissolution) Act (I of 1993)-------S. 11---Auction of property---Refund of earnest money---Petitioner was a successful bidder of an immovable property for which offers were invited by the Punjab Cooperative Board for liquidation---Earnest money was deposited by the petitioner, neither the offer was accepted by the Liquidation Board nor the earnest money was refunded---Contention raised by the Board was that petitioner failed to fulfil his commitment---Validity---No details of default committed by the petitioner were furnished to the Court---Receipt of earnest money was not denied and there was nothing on record to show that offer made by petitioner had even been accepted and the same was communicated to the petitioner---Board had no right to retain such money of the petitioner and as such was directed to refund the earnest money in circumstances. ORDER According to the facts stated in this petition Punjab Cooperative Board for Liquidation had invited offers for sale of immovable property measuring 167 Kanals and 18 Marlas situate at Shahkot, District Sheikhupura. In response thereto the petitioner gave an offer of Rs.1,40,000 and deposited a sum…

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