2006 (3) TMI 332

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.... Appellant. JUDGMENT (ORAL JUDGMENT) R.S. Garg, J. - The original petitioners, being dissatisfied by the order dated September 16, 2004, passed in Company Petition No. 51 of 2001 (Rameshbhai Ramanlal Patel v. Shree Bansidhar P. Ltd. [2005] 127 Comp. Cas. 806 (Guj.)) by the learned company judge, whereunder, the prayer of the petitioners to wind up the company has been rejected, are before th....

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....y. He submits that the learned company judge was absolutely unjustified in dismissing the petition at the threshold, according to him, the petition was to be admitted, advertised and only then, final order could be passed in the matter. It is to be seen that the appellants father Shri Ramanlal M. Patel and his two brothers and their respective family members including appellant No. 1 were inter....

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....mpany could not continue the business of processing, there fore, it entered into the business of warehousing. It is to be noted that appellant No. 1 himself was in the management of the respondent-company. He was director of the respondent-company and chairman of the respondent-company in 1977-78 and became managing director on February 18, 1980, and continued to be so till April 21, 1986. It is t....

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....and its final hearing is concerned, it would be too much to say that in each case, company petition should be admitted and the same is required to be advertised. In the business world, everybody knows that whenever a company petition is admitted and advertised, it gives a brunt to smooth running and functioning of the company and the creditors, who are otherwise satisfied with the working of the c....