( 1 ) THIS is an appeal from an order of the Honble the Chief Justice, sitting as Company Judge, dated 25-6-1951. The essential facts can be shortly stated. An order for the compulsory winding up of the Saraswati Soap and Oil Mills Ltd. , was made by this Court on 25-10-1950, and by a further order dated 25-4-1951, the Official Liquidator was authorised to sell the mill premises by a public auction, the sale being subject to confirmation by the Court. The sale was held on the 27th May and the highest bid thereat was one of Rs. 1,10,000 made by the appellant. On the 9th june the Official Liquidator made a full report to the Court in which, after stating all the relevant circumstances, he expressed the opinion that the price offered by the appellant was inadequate and recommended that the sale should not be confirmed. On the 10th June, the firm of R. B. Bansidhar Sons and Company made an offer to the Court of Rs. 1,14,000 for the property. On the 16th June the learned Company Judge fixed the 25th June for the consideration of the official Liquidators report and he also directed the Official Liquidator to advertise the properly again and call for higher offers. This was do