THE HON’BLE SRI JUSTICE T. VINOD KUMAR AND THE HON’BLE SMT JUSTICE P.SREE SUDHA ORIGINAL SIDE APPEAL No.5 of 2024 JUDGMENT: (per Hon’ble Sri Justice T.Vinod Kumar)

This Original Side Appeal (OSA) is filed under Section 483 of the Companies Act, 1956 (for short ‘the Act’) r/w Clause 15 of the Letter Patent, seeking to set aside the order dt.18.12.2024 passed in IA.No.1 of 2024 in Company Application No.146 of 2024 in Company Petition No.104 of 2006, whereby the application filed seeking for stay of ongoing liquidation process including auction of the assets of the respondent-Company in liquidation has been dismissed.

2. Heard learned counsel for the appellants, learned counsel appearing for Official Liquidator, and perused the record.

3. The appellants contend that the respondent-Company was directed to be wound-up by this Court vide order, dt.17.07.2015 in CP.No.104/2006; that the said order was affirmed in appeal vide order, dt.12.04.2019, in OSA.No.50 of 2005; and that subsequent to the order of this Court winding up the respondent/Company, as affirmed in Appeal, the affairs of the respondent-Company were placed in the hands of the Official Liquidator.

4. The appellants contend that