JUDGMENT :

1. The present petition has been filed by the petitioner with the following prayers:

“In view of the facts and circumstances mentioned above it is most humbly prayed that this Hon’ble Court may graciously be pleased to:

(a) Direct the Respondent No.1 to take a decision on the Assignment pertaining to the sale of the Loan Account of the Petitioner belonging to the Dena Bank i.e. Respondent No.2 herein, with respect to which a bid has already been placed by Edelweiss Asset Reconstruction Company Limited i.e. Respondent No.3, and which has been accepted by the Respondent No.2, within reasonable time preferably within one week;

(b) Alternatively, direct the respondent No.2 to go ahead with the assignment of Loan of the Petitioner to Respondent No.3 without waiting for the formal approval of the Respondent No.1 and

(c) Direct Respondent No.2, to keep its insolvency application in abeyance since the entire exercise related to sale of asset has been completed by Respondent No.2 and Respondent No.3 has already been selected as highest bidder.

(d) Pass such other and further orders as may be deemed fit and proper in the facts and circumstances of the case.”

2. It is the case of the peti