- (1.) We have heard both sides.
(2.) The company, M/s Ravi Hi-Tech Ltd., (in liquidation) was recommended to be wound up by the order of B.I.F.R on 8.7.2003. The matter was taken to A.A.I.F.R in appeal, which set aside the order dated 8.7.2003 and remanded the matter to B.I.F.R, vide appellate order dated 27.2.2008.
(3.) In the meantime, proceedings started in the High Court pursuant to the recommendation of winding up made by the B.I.F.R, vide order dated 8.7.2003. Apparently winding up order had not been passed by the High Court.;