( 1 ) ELECTROTHERMIC Private Limited (hereinafter referred to as "the company") is in liquidation and an order to wind it up has already been passed by the learned company judge on 2/12/1993. The State Bank of Hyderabad is a secured creditor. The Andhra Pradesh State Financial Corporation (for short "apsfc"), however, is another secured creditor and has proceeded against the assets of the company under section 29 of the State Financial Corporations Act, 1951 (63 of 1951) (for short "the Act" ). The learned company judge, it appears, on a petition in this behalf, passed an order of stay and directed the APSFC to see that none of the assets of the company were handed over to any one pending further directions or orders. The APSFC moved a petition seeking vacation of the said order. The learned company judge has vacated the stay and ordered as follows :"the sale of secured property of the company, by respondent No. 1, which are in its possession, shall be held only after a notice of seven days to the official liquidator. The amount of sale if realised and if it exceeds the amount of Rs. 26. 83 lakhs then the excess amount shall be deposited in court and shall be inves