1992 (11) TMI 246

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....appeal reads thus : "Heard. Admit. To hear regarding issue of advertisement, call on July 2, 1992." The question is whether this order is appealable under section 483 of the Companies Act. Sri Sreevatsa, learned counsel for the appellant, contended that section 483 of the Companies Act provides for an appeal against any order made or a decision given in the matter of winding up of a company by the court. The relevant rule is rule 96 of the Companies (Court) Rules, 1959, which provides for admission of the petition and directions as to advertisement. The said rule states that upon the filing of the petition, it shall be posted before the Judge in Chambers for admission of the petition and fixing a date for hearing thereof and for directio....

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.... It is still open to the company to move the same court not to proceed with the matter to advertise the petition. In fact, admission of a petition, by itself, would not affect the company immediately. What affects the company is the advertisement since such an advertisement would expose its name to the public giving rise to suspicion about its credibility, thereby adversely affecting its reputation. It is in these circumstances it has been held that the court, before ordering advertisement of a company petition, should consider all aspects of the matter and shall not advertise a petition as a matter of course. The words "any order" in section 483 of the Companies Act shall have to be understood as an order which affects the right of the p....