(H) M Fabrics Ltd, (Corporate Debtor), has defaulted in repayment of its loan of ₹300 lakhs obtained for its business purpose from a Financial Institution (Financial Creditor). Repeated follow up by the financial institu

(H) M Fabrics Ltd, (Corporate Debtor), has defaulted in repayment of its loan of ₹300 lakhs obtained for its business purpose from a Financial Institution (Financial Creditor). Repeated follow up by the financial institution with the Corporate Debtor for repayment of dues did not evoke any meaningful response. In view of this, it was unanimously decided by the financial institution to apply to the NCLT for starting a CIRP against the Corporate Debtor. On filing of an application by the Financial Creditor, the CIRP was commenced, declaring a moratorium by an order of the Adjudicating Authority on 30th May, 2023 and Ms. Sowmya Ashwanth, was appointed as an Insolvency Resolution Professional. The High Court, having jurisdiction, in disposing of the pending petition of some other creditors which was filed prior to May 2023, passed an order for auction of the assets of the Corporate Debtor on 6th June, 2023. In respect of the inputs given in Para-H above, briefly answer the following questions: Advise the financial creditor whether the order of the High Court is valid and can be challenged?