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2019 (5) TMI 1075 - HC - Companies LawJurisdiction - Power of official liquidator is required to approach the Debts Recovery Tribunal - validity of sale taking place - official liquidator was not issued with any notice - HELD THAT:- The official liquidator representing the company in liquidation is required to challenge the irregularity or otherwise of a sale made under the SARFAESI Act, before the Debts Recovery Tribunal. If the borrower is aggrieved by the sale proceedings carried out under the provisions of the SARFAESI Act, appeal has to be filed within a period of 45 days under section 17 of the said Act. Since, in the present case, as the sale was alleged to have been carried out without notice to the official liquidator, counsel appearing for the first respondent-asset reconstruction company, and counsel appearing for implead petitioner in I. A. Nos. 2 and 3 and the petitioner in C. A. No. 277 of 2018, on instructions, would submit that their clients would not raise the plea of limitation for filing of appeal under section 17 of the SARFAESI Act, and thereby the said plea may be treated to have been waived, and that this court may direct the official liquidator to file appeal within reasonable time. The official liquidator is directed to file appeal before the Debts Recovery Tribunal within a period of two weeks from the date of receipt of a copy of this order, and on filing of such appeal, the Tribunal shall dispose of the same in accordance with law, after giving notice and opportunity of hearing to all the parities, within a period of twelve weeks thereafter. Till the disposal of the appeal, the interim order granted by this court on May 2, 2018 shall continue. The official liquidator is permitted to incur expenditure with respect to the court fee and other legal expenditure including counsel's fee, by moving appropriate application before the Tribunal.
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