PATEL KASHIRAM GANGARAM Vs. UNICURE REMEDIES PVT LTD

JUDGEMENT

(1.) All these petitions are filed by the petitioning Creditors under Section 433 (e) read with Section 434 of the Companies Act, 1956 for winding up of the respondent Company.

(2.) On 14.03.2001, this Court has admitted all these petitions. However, publication of advertisement was deferred till 28.03.2001. The Court has observed that on that day i.e. on 28.03.2001, the learned advocate for the respondent Company shall come forward with the instructions regarding deferment of the publication. When all these matters were taken up for hearing regarding publication of advertisement on 16.10.2001, this Court has passed further order regarding advertisement and the petitions were ordered to be advertised in local daily Newspapers "Indian Express" English and "Jansatta" - Gujarati that final hearing was fixed on 29.11.2001. Advertisement in the Official Gazette was dispensed with.

(3.) Being aggrieved by the said order, the respondent Company carried the matter in appeal before the Division Bench of this Court and by common order dated 18.01.2002 in O.J. Appeal Nos. 39 to 46 of 2001, the Division Bench of this Court permitted the respondent Company to withdraw the appeals with a liberty to approach the learned Company Judge under Rule 96 of the Companies (Court) Rules, 1956. The Division Bench has also held that the direction for publishing the advertisement would not operate till 06.02.2002 in light of the statement made by the learned counsel appearing for the respondent Company to the effect that the respondent Company would make an application on or before 06.02.2002.