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ARUN BHANSALI, VIKAS BUDHWAR
Jayshree Kailash Wani – Appellant
Versus
Official Liquidator – Respondent
JUDGMENT :
Vikas Budhwar, J.
1. This intra-court appeal under Chapter VIII, Rule 5 of the Allahabad High Court Rules read with Section 483 of the Companies Act, 1956 is against the order of the Company Judge dated 12.9.2024 whereby the Civil Misc. Application No.46 of 2024 preferred by the appellant seeking extension of time to deposit the bid amount in pursuance of the orders dated 26.7.2023 and 1.12.2023 of the Company Court was rejected.
Facts
2. Broadly, the facts of the case are that M/s Ganga Asbestos Cement Pvt. Ltd. ( In short ‘Company’) was directed to be wound up by the Company Judge by order dated 25.4.1995. Thereafter, the Company Judge on 29.11.2022 directed for e-auction of the assets of the company in liquidation situate in Village Dariyapur, District Raebareilly.
3. An e-auction notice came to be published in the year 2022 for auctioning of the land measuring 9.211 hectares or 92110 sq. meters containing a reserved price of Rs.15 crores. As per the e-auction notice the earnest money being 10% of the reserved price was Rs.1.5 crores and the date and the time of the inspection of the demised property which was put to auction was scheduled on 2.1.2023 and 3.1.2023 from 11.0
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