THE HON'BLE MR JUSTICE N.V. RAMANA Company Application Nos.1646 of 2007 and 226 of 2009 in Company Application No.524 of 2008 ORDER: C.A.No.1646 of 2007 is filed by M/s.Allwyn Watches Limited (in provisional liquidation) represented by the Official Liquidator as Provisional Liquidator, seeking permission to get the assets of the applicant-company valued through M/s.APITCO. Through order, dated 26.11.2007, this Court has appointed M/s.APITCO as Valuer for valuing the assets of the applicant-company. Thereafter, after valuing the assets, the Valuer has even filed his report into the Court, which is taken on record. C.A.No.226 of 2009 is filed by the IDBI Bank Limited, seeking a direction to the Official Liquidator to initiate steps to revalue the assets of the company under liquidation. Today, when the matters are taken up for consideration, the learned counsel appearing for the IDBI Bank Limited has submitted that the IDBI Bank has no objection to go for auction at the proposed price of Rs.139 crore and to that effect, he produced a copy of the fax message sent by the Dy.General Manager, Recovery Department, IDBI Bank Limited. In that view of the matter, no further orders are necessary in these applications and accordingly, they are closed. The Official Liquidator is directed to file an application seeking permission to effect sale of the assets valued. ___________________ N.V. RAMANA, J. Date:05.11.2009 VGB