Ram Mohan Reddy, J.

1. There is non-compliance with the order dated 09.09.2014 directing the appellants to deposit 50% of the amount directed to be paid by the appellants to the Karnataka State Industrial Investment and Development Corporation Limited (for short 'KSIIDCL'). Facts briefly stated are: the appellants stood as guarantee for the loan of Rs. 132.75 lakhs on 31.12.1992 and additional loan of Rs. 22.75 lakhs on 20.08.1996 extended to respondent No. 2 by KSIIDCL. On failure of the 2nd respondent to repay the amount together with interest, the amount became over-due.

2. The 2nd respondent, it is said, approached the Board for Industrial Investment and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985, whence by order dated 02.04.2003, the Board opined that the 2nd respondent Company should be wound up under the said Act and forwarded its opinion to this Court. Respondent No. 1 Corporation took over the assets of the respondent No. 2, exercising jurisdiction under Section 29 of the State Financial Corporations Act, 1951 (for short 'SFC Act') and in view of the winding up proceeding pending before this Court, the assets could n