LAKSHMANAN J.

Before dealing with all the applications, it is necessary for me to briefly state the history of the case. This court, by order dated February 22, 1991, in Company Application No. 1561 of 1990 in Company Petition No. 28 of 1986, directed the respondent herein (official liquidator) to invite sealed tenders for the sale of the properties belonging to the company in liquidation by publishing advertisements in newspapers. Accordingly, the official liquidator had published necessary advertisements in The Hindu, The Indian Express, Economic Times and Financial Express (all in English) and in Daily Thanthi (Tamil), calling for sealed tenders for the sale of the company's property. The advertisements were published in the said newspapers on March 9, 1991, and March 10, 1991. Pursuant to the advertisements in the newspapers, many parties evinced considerable interest in the purchase of the property of the company (the textile mill) in liquidation. About 115 persons obtained from the office of the official liquidator copies of the terms and conditions and tender forms between April 8, 1991, and April 10, 1991. About 35 persons had visited the factory premises at Pudu