KARNATAKA STATE FINANCIAL CORPORATION Vs. REKHA CEMENTS AND CHEMICALS LTD AND ORS

JUDGEMENT

(1.) This appeal by the Karnataka State Financial Corporation [for short 'the Corporation'] a State Financial Corporation under the provisions of State Financial Corporations Act, 1951 is under section 483 of the Companies Act, 1956 read with section 4 of the Karnataka High Court Act, 1961, and is directed against the order dated 17.10.2012 passed by learned company Judge of this court on company application No.1284 of 2012 passed in common with other company applications, all filed in Company Petition Nos.67 and 105 of 1995, praying for setting aside the order.

(2.) Under the impugned order, the learned Company Judge had declined to recall an earlier order dated 1.10.2012 passed by the court in company petition No.67 of 1995 reading as under:

(3.) This order though had not been appealed against, was sought to be rescinded by the appellant by filing company application No.1284 of 2012 and some third parties who were interested in participating in the auction bid and giving a better offer had also filed application for the very relief.