Veerender Singh Siradhana, J. - (1.) EX -Director of M/s. Kesri Vanaspati Products Ltd., ('the Company in Liquidation', for short), has instituted an application (51/2014) with a prayer seeking quashment of Tender Notice dated 2nd September, 2014, whereas the Official Liquidator of the Company in Liquidation aforesaid has instituted S.B. Company Application No. 53/2014, with a request for accepting of the highest bid for sale of Plant and Machinery and other equipment of the Company in Liquidation, as a consequence of Tender Notice dated 2nd September, 2014, which was issued with the approval of the High Court on an Application No. 32/2014, disposed off vide order dated 1st September, 2014.
(2.) BRIEFLY , the skeletal material facts necessary for appreciation of the controversy raised herein are that the Company in Liquidation was ordered to be wound up vide order dated 13th January, 2004, passed in the Company Petition aforesaid. The Debts Recovery Tribunal, Jaipur issued an order dated 30th September, 2005, for auction, without notifying the Official Liquidator. The proceedings of auction, consequent thereupon, were quashed and set aside, in S.B. Company Application No. 79/2005, vide order dated 23rd January, 2007, for the Official Liquidator was not associated in the auction proceedings. Thereafter, the Official Liquidator, directly, made an application before the High Court, which has been disposed off, with approval leading to issuance of impugned Tender Notice dated 2nd September, 2014. Thus, the question raised for want of jurisdiction, is the subject matter of the two applications. Learned counsel for the applicant/Ex -Director, reiterating the pleaded facts and grounds of the application, referring to the opinion of the Hon'ble Apex Court of the land in the case of Official Liquidator, Uttar Pradesh and Uttarakhand v. Allahabad Bank and Ors: : 2013(4) SCC 381, has emphatically, argued that the Official Liquidator, is required to follow the route as engrafted, under the Recovery of Debts due to Banks and Financial Institutions Act, 1993.
(3.) ACCORDING to the learned counsel, the jurisdiction of Company Court vis a vis, the sale of assets of Company in Liquidation, under the provisions of Recovery of Debts Due to Banks and Financial Institution Act, 1993, is within the exclusive jurisdiction of Debts Recovery Tribunal, for the purpose of sale of the properties for realisation of the dues of the banks and Financial Institutions.;