1. A Company, viz. Maharashtra Explosives Ltd. (Company under liquidation), incorporated under the Companies Act, 1956 (for short, “the said Act”), having its registered office at Plot No.2, Villa Marina, 924, Nelson Square, Nagpur-13, was ordered to be wound up on 12-8-2001 by this Court in Company Petition No.7 of 2001 and the Official Liquidator was appointed with usual powers and duties under the said Act. In compliance of the said order, the Official Liquidator took the possession of the assets, properties and books of accounts of the said Company, being factory assets situated at Kelzar, District Wardha. By an order dated 9-11-2001, the Official Liquidator was permitted by this Court to sell the assets and properties of the said Company situated at Kelzar, District Wardha, and Singroli (M.P.). The Official Liquidator realized a sum of Rs.40 crores by sale of the assets and properties of the said Company. The sale was confirmed by this Court on 3-10-2007 in favour of the highest bidder, namely M/s. Cozy Properties Pvt. Ltd., and the purchaser had deposited the entire amount with the Official Liquidator. However, the proceedings are pending before the Apex Court in SL