2009 (1) TMI 476

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.... with the procedure under section 101(2) of the Companies Act, 1956. This is in view of the averments made in the affidavit-in-support of the company petition and in a further affidavit dated 19-12-2008, inter alia, to the effect that the creditors of the company are of the value of about of Rs. 127 crores; creditors of an aggregate value of about 99.38 per cent have given their consent and that s....

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....he opinion expressed in such report, appropriate orders would be passed in that matter. It was further observed that this course would not only subserve the interests of the creditors/public in general but also facilitate the Court in taking an informed decision. The learned Judge, therefore, issued notice to the Government of India, through the Regional Director (Western Region). The Regional Dir....

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....mpany court to pass such directions or follow the said procedure in every such matter. The reports such as the one called for are only an aid to the company court and are not mandatory in every case. 5. The interests of the public in general or of the creditors in particular cannot possibly be affected by not following such a procedure. There are adequate safeguards in the Companies Act to prot....