GUPTA REFRACTORIES Vs. CONSOLIDATED STEELS AND ALLOYS LTD

JUDGEMENT

(1.) The present Appeal assails the Order of the learned Company Judge dated 7 th November, 2008 whereby the application of the Appellant being C.A. No.385/2007 was dismissed.

(2.) The facts as are relevant for the disposal of the present Appeal are as follows:

(3.) On behalf of the Appellant, it was urged by Mr. Sandeep Sethi, Senior Advocate, that the Appellant had purchased all the plant, machinery and structures of the Company in liquidation and only the land, building and other permanent structures were not purchased by it. In this behalf, the Appellant has relied upon the valuation report prepared by M/s A.K. Pathak & Associates dated 28 th July, 2001. The Appellant further relied upon the proceedings recorded by the Tehsildar, DistrictMorena, at the time of auction on 26 th July, 2001, which, inter alia, reads: "the machinery, plant etc. of the debtor consumer Company available for sale was shown to the present auction bidders at the site and auction started. The present auction bidders started the auction for plant and scrap except the land, building and other permanent structure ..".