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2. Mr. M. S. Pandita, IAS, the then Principal Secretary, Govt. of Industries & Commerce, Govt. of J&K,
3. Mr. Mohd. Saleem Beg, the then Director Industries & Commerce Department,
4. Mr. G. Q. Wani, the then Managing Director, J&K SIDCO Ltd.,
5. Dr. V. C. Shah,
6. Mr. K. R. Padha,
7. Mr. Salmann Moloobhoy.
8. Field Marshal S.H.F.J. Manekshaw,
9. Mr. Mohd. Jaffar Rajabali Varteji.

07. The petitioner-company came to set up its registered office at SIDCO Industrial Complex, Khonmoh, Phase-II, Srinagar (J&K) and factory on a leasehold premises to engage in manufacturing business of galvanized plain coils, sheets and corrugated sheets.

08. In terms of its factory location and premises, the petitioner- company came to acquire leasehold rights for a period of 90 years with respect to 20 acres (160 kanals of land) in SIDCO Industrial Complex, Khonmoh, Phase-II, Srinagar by virtue of a registered lease-deed dated 16.03.1986 and whereat an industrial infrastructure came to be set up leading the petitioner-company to its business activity.

37. SIDCO, as being a party impleaded in the case, came to submit its status report on 16.04.2016, the import of which is to claim the leasehold premises back and keep it out of liquidation proceedings. To this SIDCO report, the petitioner-company came to submit its response on 21.07.2016, SBI on 20.09.2016.

38. On the basis of intervening proceedings, this Court, vide its order dated 12.09.2017, came to direct the Official Liquidator to initiate auction proceedings with respect to the assets of the petitioner-company obtaining in the form of its leasehold premises with building, plant and machinery with valuation as done by M/s Mir & Associates as being the base price.

44. The proceedings in the case has remained in status quo as it is from the date of order dated 12.09.2017 bearing direction for auction of the assets of the petitioner-company with no forward movement taking place at the end of all the stakeholders i.e., this Court, the Official Liquidator, the petitioner-company, the SBI, the J&K Bank and the SIDCO.

45. On 24.03.2022, the SIDCO came forward with an application dated 18.03.2022 bearing CMA no. 2045/2022 seeking retrieval of its land under lease of the petitioner-company which application came to be responded by the Official Liquidator on 07.12.2022, by the SBI on 08.12.2022 and the petitioner-company on 08.02.2023 acting through Mr. Mohd. Jaffar Rajabali Varteji.