Hemant Gupta, J. - (1.) That present petition is for confirmation of sale of movable and immovable properties of the company in liquidation.
(2.) Vide order dated 12.7.2002, M/s O.N.S. Knitwear (P) Limited was ordered to be wound up and the Official Liquidator attached to this Court was appointed as its Liquidator. The Official Liquidator has taken over the possession of the land, building, plant and machinery of the company in liquidation situated at Ludhiana and that of factory premises.
(3.) Vide order dated 11.08.2005, this Court permitted the Official Liquidator to conduct the sale of all movable and immovable assets of the company subject to confirmation by this Court. In pursuance of such sale notice which was published in The Tribune, Punjab Kesari, Dainik Bhaskar and Punjabi Ajit, respondent No. 1 Dilbagh Singh was found to be the highest bidder who has given a bid of Rs. 5 lacs. The Official Liquidator has moved the present application for confirmation of the bid so received.;