VIRAMGAM SPINNING AND MANUFACTURING COMPANY LIMITED Vs. INDUSTRIAL BANK OF WESTERN INDIA LIMITED

JUDGEMENT

(1.) WE think that this appeal is not competent as the order was made by District Judge, not in the winding-up of the company, but on the application of the company itself. There are two classes of orders which can be made under Section 158 of the Indian Companies Act, the first, while the company is in existence, which can be made on an application either by the company or by a creditor or by a member of the company, the second after a winding up order has been made, which can be made on an application by the liquidator. It is only if the order is made in the course of the liquidation by the Court that aa appeal lies under Section 202 of the Act. As this order was made on an application by the company, which is not in the course of being wound up, there is no provision in the Act which provides for such an order being appealable. The appeal, therefore, must be dismissed with costs in favour of respondent No. 1.