Hon’ble Ashok Bhushan, J.—Heard Sri V.K. S. Chaudhari, learned Senior Advocate assisted by Sri PN. Tripathi, for the appellant and Sri Anjani Kumar Misra, assisted by Sri Arnab Banerji for Official Liquidator respondent No. 1. Sri K.M. Asthana, learned Advocate has appeared for the respondent No. 2. Sri U.N. Sharma, learned Senior Advocate assisted by Sri Manoj Kumar Sharma has appeared on behalf of the respondent No. 3.

2. With the consent of learned counsel for the parties, the appeal has been heard finally and is being decided by this judgment.

3. This special appeal under Chapter VIII Rule 5 of the Rules of the Court has been filed by the appellant Allahabad Bank challenging the judgment and order of learned Company Judge dated 24.10.2009, passed in Civil Misc. Application No. 164340 of 2009 in Civil Misc. Company Petition No. 5 of 1998 and Misc. Company Petition No. 113 of 1997 (In the matter of M/s Rajinder Pipes Ltd. in liquidation).

4. Brief facts necessary to be noted for deciding this appeal are that company petition No. 113 of 1997 Rajinder Pipes Ltd. (in the matter of M/s Rajinder Pipes Ltd.) was filed in this Court. Allahabad Bank, the appellant filed an Original Application being Original Application No. 153 of 1999 under Section 9 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as “1993 Act”) for recovery of an amount of Rs. 39,93,47,701 with interest which was decreed by Debut Recovery Tribunal, Jabalpur vide its order dated 7.3.2000. Debt Recovery Certificate being DRC No. 164 of 2000 was issued for recovery of the aforesaid amount which was subsequently transferred and registered at Debt Recovery Tribunal Allahabad. By order dated 26.7.2000, the Company Judge passed an order for winding up of M/s Rajinder Pipes Ltd. The Official Liquidator took possession of the assets of the company on 24.7.2002. The Recovery Officer in pursuance of the recovery certificate attached the immoveable properties of the wound up company being half share of plot Nos. 902 and 891 by order dated 29.8.2002. The movable properties of the company were attached by order dated 23.12.2003. The appellant Allahabad Bank made an application in the company petition No. 113 of 1997 for impleading it as a necessary party and to protect the appellant’s right getting it out of winding up proceedings. A request was made on behalf of the appellant before the Company Judge that recovery officer of the Debt Recovery Tribunal who had already attached the moveable and immoveable properties be permitted to proceed with the sale of the properties. The Company Judge passed an order on 13.2.2004 permitting the appellant to proceed with the attachment and sale of the assets for recovery of the dues under the 1993 Act. The Official Liquidator was directed to give access to Recovery Officer to proceed with the recovery. The sale of the Assets took place and a sale certificate dated 4.12.2006 was issued by the Recovery Officer. The auction purchaser made an application before the learned Company Judge praying for direction to the Official Liquidator to give physical possession. The learned Company Judge passed an order dated 4.4.2007, setting aside the sale certificate dated 4.12.2006 on the ground that the Official Liquidator was not heard nor he was given any opportunity to represent before the Recovery Officer for the purposes of representing workmen’s dues and apportion of the workmen’s liability under Section 529A of the Companies Act from the securities sought to be sold. The Court held that Recovery Officer is entitled to sell the properties of the debtor only after hearing him. By order dated 4.4.2007, the learned Company Judge directed the Recovery Officer to proceed to sell the assets only after associating the official Liquidator and after giving him hearing in which the Official Liquidator will have right to represent workmen’s dues worked out only after inviting the claims and expenses, w