India, Aug. 24 -- After spending more than a year docked at the Mumbai Port and surviving two failed auctions, the abandoned cargo vessel MV Sencer 1 has finally found a buyer. The Bombay high court on Friday accepted a Rs.2.85 crore bid from A A Associates at the vessel's third auction, saying the offer was fair and that no purpose would be served in re-auctioning the vessel.

"Considering that the past two auctions and the last one even for scrapping purposes had failed, I do not think that re-auction may yield a better price," Justice Ahuja observed in his order dated August 21.

The court's order, however, listed the vessel's dues which included Rs.69.82 lakh owed to K E Salvage Corporation for food supplied to the seamen who were kee...