S.K. Keshote, J. - (1.) HEARD learned Counsel for the petitioner and perused the entire record of the application. The petitioner has filed this application under Section 457(3) of the Companies Act, 1956 and prayer has been made therein for a direction to the Official Liquidator to allow the representative of the petitioner to inspect the factory land and building, plant and machineries and assets and sell the same so as to expedite the recovery of secured creditors including the petitioner.
(2.) THE petitioner has failed to produce on the record any document to show and establish that it is a secured creditor of the Company, in liquidation. In the absence of any evidence on the record that the petitioner is a secured creditor of the Company, in liquidation, the prayer made in the application for sale of the assets of it, cannot be granted. As regards to the other prayer made to permit the representative of the petitioner to inspect the land and building, plant and machineries and assets, suffice it to say that neither it is a secured creditor nor a prospective buyer and thus the prayer made cannot be granted. As and when the claims would be invited, the petitioner is free to file the same and the Official Liquidator will make adjudication thereof.
(3.) IN the result the application fails and the same is dismissed.;