The facts are as under:

2. CA.No.1811 of 2005 was filed by a third party seeking for a direction directing the Official Liquidator to remove the Security Guards and handover possession of the subject property. In the affidavit filed in support of the above application, it is stated by the third party that, M/s. Dev Sugars Limited(in Liquidation) was ordered to be wound up in C.P.No.170 of 1995 and C.P.No.35 of 1997 by an order dated 16-09-1999. The first respondent Official Liquidator was appointed as the Liquidator of the said company. The Official Liquidator took possession of the assets of the company situated at Harige Village, Shimogo District, Karnatka on 28-04-1999 in the presence of the Deputy Commissioner, Shimoga and Chief Manager of State Bank of Mysore, a secured Creditor of the Company.

3. State Bank of Mysore extended financial assistance to the Company and secured their outstanding dues. The Bank filed O.A.No.440 of 1997 before the Debt Recovery Tribunal, Bangalore for recovery of a sum of Rs.22,31,78,5555. The said O.A was decreed by the Debt Recovery Tribunal(DRT) and the Recovery Officer in consultation with the Bank issued an official notice for sale of