SUNRISE OLEO CHEMICALS LTD Vs. RELIANCE ASSET

JUDGEMENT

(1.) C.A.No.222 of 2018 is filed by the company in liquidation, seeking following directions:

(2.) This court by interim order dated 02.05.2018 directed the respondents not to proceed with sale of landed property together with structures of the company in liquation situated at Yawapur village, Sadasivpet Manal, Medak District, for a period of twelve weeks. The said interim order was extended from time to time and on 18.09.2018, it was extended until furthers.

(3.) The 1st respondent - Asset Reconstruction Company, had acquired a part of the asset from the secured creditor - Central Bank of India under the SARFAESI Act. The 2nd respondent - State Bank of India, is the secured creditor of the assets of the company in liquidation.