R.L. Anand, J. - (1.) THIS order will dispose of a petition under Section 466 of the Companies Act, 1956, read with Rule 9 of the Companies (Court) Rules, 1959, vide which the following prayers have been made by the petitioner: (i) That the winding up order which has been passed ex parte qua the employees be stayed in view of the facts and circumstances mentioned in the petition. (ii) That the agent appointed by the official liquidator who was running the company prior to the passing of the winding up order dated July 6, 2001, be allowed and directed to continue functioning of the company as a going concern. (iii) That the official liquidator be directed to sell the company as a going concern with its complete infrastructure by issuing advertisements in all leading newspapers across the country along with the secured creditors - -respondents Nos. 3 and 4.
(2.) NOTICE of the petition was given to the official liquidator, who does not want to file a reply and is ready to argue the matter on the basis of the petition. I have heard Mr. Anand Chhibber, advocate on behalf of the petitioner, Mr. Sumeet Malhotra, advocate on behalf of the official liquidator and with their assistance have gone through the records of this case.
(3.) VIDE order dated July 6, 2001, the company petition filed by Titan Industries Ltd., respondent No. 2, was allowed by relying upon the report of the provisional liquidator and an order for winding up of the company was passed and it was directed that the provisional liquidator will be the liquidator of the entire assets of the company and he will proceed in accordance with law.;