2004 (2) TMI 370

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....ras Sharma for the Applicant. B.K. Sharma for the Respondent. ORDER 1. Heard learned counsel for the parties and perused the entire record of the application, its enclosures and the reply thereto filed by the non-applicant. 2. This is an application under section 446(2) of the Companies Act, 1956 and the prayer has been made therein by the applicant to allow it to remain out of winding-up....

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....t Rajasthan Financial Corporation is granted permission to remain out of the winding-up proceedings subject to the following conditions : 1.That the sale of the assets of the company (in liquidation) is to be affected only after it is valued by the registered valuer or by a committee of technical experts. 2.The applicant shall thereafter fix the upset price of the assets of the company (in l....