Stressed Assets Stailisatin Fund v. Sri. Vishnu Priya Industries Ltd. (In. Liquidation)

THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM COMPANY APPLICATION No.957 of 2017 ORDER:

In this Company Application, applicant - Stressed Assets Stabilisation Fund (SASF), Mumbai, prays for issuance of a direction to the Official Liquidator to sell the land of Acs.44.40 cents and Buildings, Plant and Machinery at the Company Premises situated at Panyam Village, Kurnool District. In the light of order, dated 30.11.2018 in COMPA.No.1773 of 2015, wherein this Court directed the Official Liquidator to take necessary steps for auctioning the land and indigenous plant and machinery after completion of sale of the merged equipment and machinery, this Company Application is closed for the time being by giving liberty to the applicant as well as the respondents to file appropriate applications therefor. However, the Official Liquidator shall take steps for filing necessary application with respect to the proposal to sell the indigenous plant and machinery independently, as the same is not connected with the merged machinery and equipment, seized by the Central Excise Department, within two weeks.

_________________________ CHALLA KODANDA RAM, J 30th NOVEMBER, 2018.

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