- (1.) In this application one of the supporting creditors in the winding-up application prays for appointment of a provisional liquidator to take possession of the assets and properties of the company.
(2.) It appears that by order dated January 21, 2014 the winding- up application was admitted at the instance of the petitioning creditor, namely, Lafarge Aggregates & Concrete India Pvt. Ltd. for Rs.3.02 crore along with interest calculated at the rate of 8% per annum from the date of issuance of the statutory notice till realisation.
(3.) The learned Company Judge, however, granted instalments for payment of the said amount by the company to the petitioning creditor. Since the company did not make payment of the aforementioned amount to the petitioning creditor, the winding-up application was advertised in the newspapers. Thereafter, various creditors of the company, including the present applicant appeared before this Court and supported the prayer of the petitioning creditor for winding-up of the company.;