Anubha Rawat Choudhary, J. - (1.) Heard Mr. Jitendra Kumar Pasari, learned counsel appearing on behalf of the petitioner.
(2.) Heard Mr. Nitin Kumar Pasari, learned counsel appearing on behalf of the respondent along with Ms. Siddhi Jalan, Advocate.
(3.) This petition has been filed for winding up of the respondent company with a further prayer that the official liquidator be appointed and be directed to take immediate possession of the properties of the respondent company. A prayer has also been made seeking a direction upon the respondent company to pay an amount of Rs. 50 lacs towards the short term loan advanced to the respondent company out of the company's assets. The petitioner has also prayed for cost incidental to the present application. The petitioner has filed its Board's Resolution dated 09.08.2012 authorising one of its director to move winding up petition against the respondent company under applicable provisions of the Companies Act, 1956 and to do necessary action or omission and to sign Vakalatnama on behalf of the petitioner company for recovery of alleged loan of Rs. 50,00,000/- given by the petitioner-company to the respondent-company.;