OFFICIAL LIQUIDATOR Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) C.A.No.174/2021 has been filed by the applicant seeking for the following reliefs:

(2.) The contention of the Official Liquidator is that the secured creditor was required to sell the property of the Company in liquidation and report on the same.

(3.) Objections to the said application have been filed stating that the secured creditor is not standing outside the winding up proceedings, i.e. the secured creditor is standing within the winding up proceedings and furthermore, there is no particular decree in favor of the secured creditor. As such, they are unable to sell the property of the Company in liquidation and they have no objections for the Official Liquidator to sell the property and assets of the Company in liquidation.