- (1.) Heard Sri Anurag Khanna, Senior Counsel assisted by Sri Sandeep Arora, learned counsel appearing for the appellant and Sri Ashok Mehta, Senior Counsel assisted by Sri Ashish Agrawal for the Official Liquidator. Sri Narendra Kumar Giri has accepted notice on behalf of respondent No.2 who is a formal party. The appeal under Chapter VIII Rule 5 of the High Court Rules purports to challenge two orders, the main order is dated 27.02.2018 and the other order is dated 02.11.2018.
(2.) The order dated 02.11.2018 is an order rejecting the listing application of the appellant. Sri Khanna, at the very outset, submits that he does not want to press the appeal against the aforesaid order and is confining the challenge in this appeal to the order dated 27.02.2018. Accordingly, we have heard the parties on the validity of the order dated 27.02.2018 only. The appeal was reported to be beyond time by about 87/89 days which we had condoned vide our order dated 26.03.2019 subject to payment of cost of Rs. 5,000/- by the appellant.
(3.) The order impugned in this appeal is an interlocutory order by which the proceedings initiated by the appellant State Bank of India for e-auction of the assets of the company in liquidation under the provisions of The Securitisation And Reconstruction Of Financial Assests And Enforcement Of Security Interest Act, 2002 (in short "SARFAESI Act, 2002") have been stayed for the reason that the possession of the said property was taken by the appellant-bank after the passing of the winding up order and without the leave of the Company Court.;