- (1.) WE have heard Shri Prashant Kumar, learned Counsel for the Appellant. Shri R.P. Agarwal appears for the Respondents -companies.
(2.) THE Appellant is unsecured creditor of Triveni Engineering and Industries Limited (demerged company), Respondent No. 1.
(3.) THIS special appeal has been filed under Chapter VIII, Rule 5, of the Allahabad High Court Rules, 1952, against the order dated 18.2.2011 passed by hon'ble Company Judge, sitting singly, rejecting Petitioner's application for recalling the order dated 9.9.2010 under Section 391 of the Companies Act, 1956 read with Rule 67 of the Companies (Court) Rules, 1959 by which directions were issued to convene the meetings of the shareholders and the creditors of the company for considering the scheme of demerger by which the company proposed to demerge its business and made certain provisions with regard to assets and liabilities, with Triveni Turbine Limited (Resulting Company) -Respondent No. 2. Shri R.P. Agarwal has raised preliminary objections to the maintainability of the special appeal. He submits that the order rejecting the application for recalling the order convening the meeting for considering the scheme of demerger dated 9.9.2010 is not a judgment. The order has not decided any case, or any of the rights of the parties. It is not a final order in any proceedings. The application under Section 391 is still pending in which objections filed by the Appellant to the convening of meetings have been heard and that the judgment was reserved on 17.3.2011. He submits that Sub -section (7) of Section 391, giving a right of appeal to any aggrieved person against the order passed under Section 391, was deleted by the Companies (Second Amendment) Act, 2002. The appeal is not thus maintainable under Sub -section (7) of Section 391, or under Section 483, which provides for appeal in the matters of orders made in the proceedings of winding up of the company.;