Sunil Ambwani, J. - (1.) PRESENT Shri Rajnath N. Shukla appearing for the official liquidator, Shri S.K. Saxena, the official liquidator and Shri Pankaj Bhatia for M/s. Mukund Ltd. The other counsel, namely, Shri P.K. Jain, Shri R.P. Dubey, Shri Rakesh Bahadur, Shri R.P. Agarwal and Shri K.G. Srivastava are absent.
(2.) SOME of the company petitions were tied up with hon'ble Mr. Justice Sushil Harkauli. They have released on November 27, 2006 and have been listed along with the decided Company Petitions Nos. 19 of 1996, 111 of 1996, 77 of 1999 and 78 of 1999. Now since all the matters have been connected, the order dated September 1, 2006, passed in Company Petition No. 48 of 1999, in the matter of United Western Bank Ltd. and in the matter of Khaitan Hostombe Spinels Ltd., have become relevant.
(3.) A perusal of the events as they have unfolded in this Court in these 19 petitions shows that the Company Petition No. 25 of 1996 was filed by M/s. Hindustan Thompson Associates Ltd., to wind up Khaitan Hostombe Spinels Ltd. (KHSL), for non -payment of Rs. 38,76,000 as on October 31, 1995. Notices were issued on this petition on August 19, 1996. The company petition was followed by Company Petition No. 63 of 1997 by Mukund Ltd. to wind up KHSL for non -payment of Rs. 2.02 crores and the Company Petition No. 48 of 1999 by the United Western Bank Ltd., for non -payment of Rs. 2 crores.;