Pradeep Kant, J. - (1.) Heard the learned counsel for the appellant Sri Pradeep Agarwal and Sri B.P. Singh for the respondent.
(2.) With the consent of the parties' counsel, the appeal is being heard finally.
(3.) This company appeal under section 433 of the Companies Act has been filed against the judgment and order dated 18-1-2007 passed by the learned Single Judge in company petition No. 2 of 2007. The learned Single Judge, on ex parte motion, passed the following order : "The petitioner has claimed that company owes of liability of payment of back wages to the petitioner and there is also dues of loan upon the property of company and the petitioner and other likewise workers raised their grievance before the Industrial Tribunal where the case is proceeding for adjudication. However, the company is proceeding to sell the property of the company to frustrate the purpose of the proceedings. On the strength of the aforesaid facts, the petitioner has prayed for an ad- interim relief to restrain the company to sell the property during the pendency of the case. Considering the facts and circumstances of the case, as an interim measure, I hereby issue direction to restrain the company to sell the property in question till further orders of this Court. List in the week commencing 19-2-2007.";