Ashim Kumar Banerjee, J. - (1.) This winding up petition was admitted by me by my order dated 29th June, 2001. While admitting the winding up petition I suo motu stayed operation of the said order for a period of two weeks from the said date. The company preferred an appeal on 19th July, 2004. The application for stay was heard by the Division Bench on August 5, 2004. The operative part of the order of the Court of Appeal is quoted below:-- In this view of the matter, we admit the appeal. There will be an order in terms of prayer (a). The appeal might be made ready. Affidavits are not invited to the stay petition. The allegations therein cannot be taken to be admitted. Stay is refused and the Company Court can proceed with the winding up process. On the above lines of reasoning, as and when the appeal might require to be decided and heard out, the parties will have liberty to mention it. Legible copies of the Paper Book might be kept ready for immediate filing, if that is possible and practicable.
(2.) From the order of the Division Bench, it appears that the Court of Appeal permitted this Court to proceed with the winding up process.
(3.) Pertinent to mention that advertisements had already been published prior to the date when the matter was taken up by the Division Bench.;