SUBRATA TALUKDAR, J. - (1.) Like the Sun which is centre of our Galaxy, the Milky Way, at the centre of all the above noted connected applications is the winding-up petition filed close to 32 years ago and numbered as Company Petition 2/1987 (for short CP 2/1987).
(2.) CP 2/1987 seeks winding-up of Baranagore Jute Factory PLC (for short the Company or only BJF). The Company Applications (CAs), like planets, moons, comets, asteroids and other galactical matter, circle CP 2/1987 drawn by its centrifugal force. The force that attracts the galactical matter is a pot of around Rs. Ninety Five Crores and odd lying in deposit with the Registrar, Original Side, High Court at Calcutta. In terms of several orders of the Hon'ble Court reiterated from time to time read in the light of solemn orders of the Hon'ble Apex Court, the money lies invested in a short term fixed deposit with a Nationalized Bank.
(3.) The origin of the pot of money is the compensation paid by the National Highways Authority of India (NHAI) towards acquisition of the lands of the Company. Also, the period of 32 years from the filing of CP 2 in 1987 to the present day can be broadly divided into two major halves.;