R. BANUMATHI, J

1. O.S.A.Nos.63 and 64 of 2011 arise out of the order of learned single Judge dated 19.1.2011 in C.A.No.1038 of 2006 in C.P.No.229 of 2004, whereby the learned single Judge directed sale of assets of both immovable, land and building and plant and machinery and other movable assets of Arunachalam Sugar Mills Limited (hereinafter referred to as "ASM") by fixing the upset price at Rs.86.44 Crores. ASM's sister concern - New Horizon Sugar Mills Limited (hereinafter referred to as "NHSM") is the appellant in O.S.A.No.63 of 2011. The promoters/directors and their wives are the appellants in O.S.A.No.64 of 2011. Being aggrieved by the dismissal of the applications - O.A.Nos.253 and 254 of 2005 filed under Section 9 of Arbitration and Conciliation Act and directing Bharat Heavy Electricals Limited (in short, "BHEL") to lodge its claim with the Official Liquidator, BHEL has preferred the appeals - O.S.A.Nos.58 and 59 of 2011. O.S.A.No.81 of 2011 is filed by Walchandnagar Industries Limited, one of the unsecured creditor against the order dated 19.01.2011 made in C.A.No.2486 of 2006 in C.P.No.229 of 2004.

2. FACTUAL BACKGROUND OF THE MATTER:-

Indian Renewable Energy