HC restrains auction of land belonging to Lucknow Nagar Nigam

The Allahabad High Court today restrained to confirm the auction of property (land) belonging to Nagar Nigam, Lucknow which had been provided on lease to UPTRON India Limited in posh Gomti Nagar here.
A division bench comprising Justices Rajiv Sharma and Saeed-uz-zaman Siddiqui passed this order on a writ petition filed by Nagar Nigam, Lucknow seeking direction to stop further proceedings of confirmation of the auction of the said land.
The court in its order said "since the confirmation of the sale of property in question is going to expire tomorrow, as such, as an interim measure, we restrain the opposite party from confirming the sale of the property in question".

The local bench of the court directed to put up the matter before it tomorrow.
It might be mentioned that Nagar Nigam, Lucknow had leased out the land to UP Electronics Corporation (UPTRON) on 30 years lease on May 23, 1985.
Thereafter, UPTRON had taken loan from two banks against the land which it failed to repay and in order to realise it, the banks started auction proceedings.
The matter was highlighted by the media which claimed that it was auctioned to a local builder on March 1, 2013 at throwaway prices.