1 S.B. Company Application No.3/2004 Date of Order dated 12.1.2010 HON'BLE MR. PRAKASH TATIA, J. Mr.Vikas Balia, for the official liquidator. <><><> Though on application filed under Section 457(1) of the Companies Act, 1956, this Court ordered for issuance of notice to the company-petitioner, who has been impleaded as respondent by order dated 24th March, 2004, but it appears that for giving powers under Section 457(1) of the Act of 1956 as such there is no requirement of giving notice to the company-petitioner because the Official Liquidator is seeking sanction of the court to exercise power under various sub-clauses of sub-section (1) of Section 457 of the Act of 1956 and in this application though specific prayer has not been made, but in supporting affidavit it has been prayed that sanction may be granted by the court to institute or defend any suit, prosecution or other legal proceedings, civil or criminal in the name and on behalf of the company, which is a power given to the Liquidator under sub-clause (a) of sub-section (1) of Section 457 of 2 the Act of 1956, however, it requires sanction of the court. The other relief claimed is that Official Liquidator may be allowed to sell the immovable and movable property and actionable claims of the company by public auction or private contract, with power to transfer the whole thereof to any person/body/corporation or to sell the same in parcels which is in consonance with sub-clause (c) of sub-section (1) of Section 457 of the Act of 1956 and Official Liquidator prayed that he may be allowed to raise on the security of the assets of the company any money requisite, which is the power given under sub-clause (d) of sub-section (1) of Section 457 of the Act of 1956 and enabling relief has been claimed and enabling powers have been sought approval by the Official Liquidator. The court has power to sanction such power of the Official Liquidator and it is hereby sanctioned. However, it is made clear that for sale of moveable and immovable property and actionable claims of the company by public auction or private contract to transfer the whole thereof to any person/body/corporation or to sell in parcels, the Official Liquidator may move appropriate application whenever he wants to exercise this power for any particular property. 3 In view of the above, the application is disposed of accordingly. [PRAKASH TATIA], J. cpgoyal/-