M.M.Kumar, J.

1. This order shall dispose of two cross appeals bearing CAPP Nos.23 and 28 of 2009, filed under Section 483 of the Companies Act, 1956 (for brevity, the Act) against the order dated 20.3.2009, passed by the learned Company Judge. The Haryana State Industrial and Infrastructure Development Corporation (appellant in CAPP No.23 of 2009) [for brevity, HSIIDC] has principally claimed that the directions issued by the learned Company Judge by keeping Pegasus Asset Reconstruction Private Limited (for brevity, the Securitisation Company) without associating the HSIIDC, are wholly erroneous and it has right to be associated with the process of sale from beginning to end. However, the Securitisation Company (appellant in CAPP No.28 of 2009) has even attacked the supervisory directions issued by the learned Company Judge in his order dated 20.3.2009 by requiring it to submit all proposal for sale to the Official Liquidator and the details of valuation obtained from the conduct of the sale and that the sale notice should incorporate specifically a clause that winding up proceedings have been pending before the Company Court, with details of case number and the Court of a