GOLDEN STEELS Vs. MADANAPALLE SPINNING MILLS LIMITED

JUDGEMENT

(1.) C.A.No.344/2022 is filed by the applicant/auction purchaser seeking direction to respondent Nos.3 to 5 to provide police protection to the applicant from respondent No.6 for the purpose of removing and transporting the machineries produced by the applicant in the auction conducted by respondent No.2 and for other reliefs.

(2.) Heard learned counsel for the applicant in C.A.No.344/2022 as well as learned counsel for the official liquidator and learned counsel for respondent No.2 and also the learned AGA for respondent Nos.3 to 5 and learned counsel for respondent No.6 and perused the material on record.

(3.) The undisputed material on record discloses that in the e-auction conducted on 29/3/2022, the applicant purchased the subject plant and machinery for a sum of Rs.11,15,00,000.00 and the entire amount was deposited by the applicant with respondent No.2, Maximus ARC Limited, on 22/7/2022. Out of the said amount deposited by the applicant, a sum of Rs.6,16,53,000.00 has been transferred by respondent No.2 to the Official Liquidator, who acknowledges the receipt of the said amount. However, subsequently pursuant to the orders passed by this Court and the subsequent events that transpired during the course of the present proceedings, the applicant in C.A.No.344/2022 has filed a memo dtd. 10/10/2022, which reads as under: