Recall of winding-up order was not maintainable where no appeal was filed and revival required a scheme-based petition.

An application by promoters and directors seeking recall or revocation of a winding-up order was not maintainable under section 466 of the Companies Act, 1956 read with Rule 9 of the Company (Court) Rules, 1959. The court noted that the winding-up order had already been passed on the recommendation of the BIFR and was appealable, yet no appeal had been filed. If revival of the company was intended, the proper course was to pursue a petition based on a revival scheme rather than seek recall of the winding-up order through the present application. The application was dismissed.

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Issues: Whether the application seeking recall or revocation of the winding-up order was maintainable under section 466 of the Companies Act, 1956 read with Rule 9 of the Company (Court) Rules, 1959.

Analysis: The application was filed by promoters and directors of the company in liquidation, but the winding-up order had already been passed on the recommendation of the B.I.F.R. and was appealable. No appeal had been filed against that order. The proper course, if revival was sought, was to move a petition framed around a revival scheme rather than invoke the present application for recall of the winding-up order.

Conclusion: The application was held not maintainable and was dismissed.

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