S. Rajeswaran, J.

1. This Company Application has been filed by the Applicant/Petitioner to stay the public auction to be held by the respondent/Corporation Bank on 9.2.2007.

2. Company Application No. 188/2007 has been filed by the petitioner-company in C.P.No. 190/2006 to stay the public auction to be held by the Corporation Bank, who was impleaded as the respondent as per order dated 8.2.2007 in C.A.No. 214/2007.

3. The brief facts are as under:

The applicant-company filed C.P.No. 190/2006 seeking the voluntary winding up under Sections 433(a) and 439 of the Companies Act, 1956. The respondent-bank who is the secured creditor of the applicant-company initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter called the 'SARPAESI Act', and the respondent took possession of the immovable properties of the Company which consists of the land and factory including the plant and machinery vide possession notice dated 31.1.2006. The respondent-bank is now ready to sell the above mentioned property by public auction on 9.2.2007 at 12.30 p.m., by fixing the reserve price at Rs. 20 lakhs. The responden