K. Abraham Mathew, J.

1. The first respondent is a company. It is a debtor of the 2nd respondent Kerala state Industrial Development Corporation. In CP No.25/2006 filed by the 2nd respondent the court ordered winding up of the 1st respondent and appointed the Official Liquidator attached to the High Court as the Liquidator of the company. Pursuant to the directions issued by the Court the Official Liquidator took possession of all the properties of the 1st respondent Company. On 11.04.2011 the court permitted the Official Liquidator to sell the immovable properties of the Company. The Official Liquidator put up for sale 63.160 cents comprised in Survey Nos.444/4 and 444/5 with the building thereon situated at Karimpana in Kuthattukulam. Only 3 tenders were received. The highest amount of Rs.35,11,111/- was quoted by the appellant. Thereafter, three persons offered higher amounts, the highest of the three being Rs.45,55,555/-. The court directed the Official Liquidator to ascertain the fair value of the land. The total value of the land and the building thereon was fixed at Rs.50,60,300/-. The court cancelled the previous sale and directed the Official Liquidator to sell