- (1.) The Present Company Petition No. 360/2016 is filed by Magnifico Minerals Private Limited and was received from Hon'ble High Court of Telangana for winding up under Sections 433 (e) & (f) of, 434(1 ) (a) and 439(1 ) (b) (c) of the Companies Act 1956 R/w Rule 95 of the Company (Court) Rules, 1959, by inter-alia seeking a direction to the Respondent Sai Balaji Sponge Iron India Private Limited to be wound up by under the orders and directions of the Hon'ble Court under the provisions of the Companies Act, 1956, and the Official Liquidator attached to the Hon'ble Court be appointed as Liquidator of the Respondent \ Company etc.
(2.) The case was listed in Hon'ble High court on various dates and this case was transferred to this Tribunal from Hon'ble High Court vide proceedings dated 21/02/2017.
(3.) The Learned Counsel for the Petitioner submitted that the affidavit has been filed complying with the Central Government Instructions dated 7/12/2016, under Insolvency and Bankruptcy Code, 2016.;