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2010 (12) TMI 1061 - HC - Companies LawOrder dated October 3, 2008 of the learned single judge directing amount of ₹ 47,20,000 along with simple interest of 24 per cent. per annum be deposited within 30 days time challenged? Held that:- As rule 7 specifically gives power to the court to extend the time, rule 9 is an inherent power before the company judge to pass order in order to meet the ends of justice. We find that the extension of time granted by the learned company judge was ultimately in the interest of justice and there was no anomaly in the same. As such, we find no merit in Company Appeal No. 1 of 2008 and the same is liable to be dismissed. For the reasons already stated above, we see no relevance or justification for even entertaining any applications moved before this court by subsequent bidders. Firstly for the reasons that the interest of the secured creditor has been well taken care of by the order of the learned single judge, inasmuch as the amount has to be now given with an interest of 24 per cent. and secondly, since there was no challenge to the order of this court dated September 20, 2005, by any of the bidders. Appeal dismissed.
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