SANJIB BANERJEE,J. - (1.) The Court : The appeal is directed against an order of June 21, 2018 by which an order winding up Jai Balaji Industries Limited has been recalled.
(2.) The appellant claims to be a creditor of the relevant company and instituted winding-up proceedings in such status. The petition was admitted by an order dated August 17, 2015. In terms of such order of admission, the petition was advertised on or about September 14, 2015, but, according to principal respondent State Bank of India, the company petition did not appear in the list on the returnable date as indicated in the advertisements.
(3.) Sometime in the year 2015, the company made a reference to the Board for Industrial and Financial Reconstruction under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985. Such fact was brought to the notice of the company Court and, by an order dated October 13, 2015, the creditor's winding-up petition was adjourned till March, 2016 and, subsequently, it was adjourned sine die. In view of the embargo under Section 22(1) of the said Act of 1985, the creditor's windingup petition could not be pursued, though its institution could not be questioned as the institution was prior to the reference made to the BIFR.;