R. MAHADEVAN, J.

The appellant in all the appeals is M/s. AL Rostamani International Exchange. The Original Side Appeal Nos.281 and 319 of 2009 are arising out of the order dated 17.07.2009 passed by this Court in Company Application Nos.2296 of 2008 and 141 of 2009 respectively, whereas, the Original Side Appeal No.7 of 2010 is filed against the order dated 23.12.2008 passed by this Court in Company Application No.1104 of 2008.

2. The brief facts common to all the appeals are as follows:

2.1 The Company SIV Industries Ltd was directed to be wound up by the Company Court by its order dated 25.08.2004. The Official Liquidator was directed to sell the properties of the company in liquidation, so as to settle the claims against the company. The land admeasuring about 260.89 acres together with building, plant and machinery was drawn for auction sale. Initially, the bid of a third party purchaser - Jalal Nasar was confirmed for Rs.236 Crores and EMD of Rs.10 Crores was deposited. The successful bidder was permitted to deposit the balance EMD of Rs.13.60 Crores on or before 16.11.2007. The applications for extension of time and for permission to inspect the premises were rejected on 23.11.2007, with a direction to forfeit the amount deposited and fresh auction was ordered by the Company Court with participation from the second respondent, the second highest bidder and Maharashtra Steel Rolling Mills.

2.2 The orders of the Company Court were challenged in OSA Nos. 381 to 383 of 2007 by Jalal Nasar and the second respondent. The Division Bench of this Court extended the time for Jalal Nasar to deposit Rs.15 Crores by 15.02.2008 and the balance amount of Rs.212.40 Crores by 15.04.2008. In case of default, the second respondent was directed to deposit Rs.23.60 Crores within 15 days from the date of default by Jalal Nasar, which happened eventually. The second respondent, who was supposed to have deposited Rs.23.6 Crores on or before 07.03.2008, sought extension, which was granted by this Court. Meanwhile, the second respondent and M/s. Power Engineering International Company entered into an assignment agreement. Pursuant to the same, M/s. Power Engineering International Company obtained demand drafts from the Appellant, stationed at Dubai, in favour of the first respondent by issuing a cheque in Dirhams for a value equivalent to Rs.23.60 Crores. The second respondent handed over the demand drafts to the first respondent, who encashed the same. In the meantime, the cheques issued by Power Engineering International Company were dishonoured on 19.08.2008. Since the EMD was deposited, this Court by its order dated 28.03.2008, allowed the second respondent to deposit Rs.212.4 Crores on or before 15.04.2008.

2.3 While so, the appellant lodged a complaint with the Public Prosecutor, Abu Dhabi and also wrote a letter to the first respondent, claiming Rs.23.60 Crores. Simultaneously, the appellant approached this Court by filing applications to grant leave, to implead itself and also for injunction in O.S.A No.383/2007. The leave was granted by this Court and the appellant was impleaded. Further direction was given to the first respondent to desist from disbursing any sums without prior permission of the Court. In the complaint lodged against the Managing Director of M/s. Power Engineering International Company in Abu Dhabi, an exparte judgment was given convicting the accused for three years on 22.04.2008. Since, the second respondent did not deposit the money within the time stipulated, this Court granted further 15 days by order dated 13.06.2008 to the second respondent and Jalal Nasar to deposit the money. An international warrant of arrest was issued against K. Tulsidas and Roy Diwakaran for the crime of dishonour of Cheques.

2.4 As the amounts were not deposited within the extended time, orders were passed forfeiting the sums already deposited on 28.08.2008 in the earlier appeals and the appellant was directed to work out their remedy