THE HON’BLE SRI JUSTICE T.VINOD KUMAR COMPANY APPLICATION No.70 of 2025 In COMPANY PETITION No.170 of 2012 & Batch

O R D E R

This Company Application is filed to declare the action of

2^nd respondent in proceeding against the assets of the Company-in- Liquidation i.e. land and buildings situated at plot No.40, admeasuring 20,675 sq. meters in Sy.Nos.315, 317, 318, 319 and 336, Phase-I, Industrial Park, Pashamylaram village, Patancheru Mandal, Sangareddy District by initiating sale of the same without obtaining leave of the Hon’ble High Court as arbitrary, illegal, void, ab initio and contrary to the provisions of the Companies Act, 1956 ( for short ‘the Act’) and consequently direct the 2^nd respondent-Bank to obtain necessary leave of the Hon’ble High Court to stay outside the winding up proceeding with the sale of the asset of the Company-in-Liquidation or reaching an OTS with the 3^rd respondent Company.

2. Heard Sri L.Venkateshwar Rao, learned counsel for the applicant, Sri J.Sreenadh Reddy, learned counsel for the Official Liquidator and Sri B.S.Prasad, learned Senior Counsel appearing on behalf of 2^nd respondent, and perused the record.

3. The applicant herein claiming himself to b