2001 (8) TMI 1319

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....tra for the Official Liquidator. JUDGMENT 1. This order will dispose of a petition under section 466 of the Companies Act, 1956, read with rule 9 of the Companies (Court) Rules, 1959, vide which the following prayers have been made by the petitioner : (i)That the winding up order which has been passed ex parte qua the employees be stayed in view of the facts and circumstances mentioned in the p....

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....th their assistance have gone through the records of this case. 4. Vide order dated July 6, 2001, the company petition filed by Titan Industries Ltd., respondent No. 2, was allowed by relying upon the report of the provisional liquidator and an order for winding up of the company was passed and it was directed that the provisional liquidator will be the liquidator of the entire assets of the comp....

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....wyer, who submitted at the Bar that the company under liquidation has to pay a sum of Rs. 58.62 crores to the DoT and it is a liability upon the company. There is no sufficient fund with the company to clear the arrears of the Government and in these circumstances the prayer made in the petition should not be granted. 6. After applying my mind to the rival contentions of the parties. I am of the ....