INDO ROLHARD INDUSTRIES LTD. Vs. M. K. MAHAJAN

JUDGEMENT

(1.) The present appeal is preferred against the order dated 13.02.2014 passed by the learned Single Judge in Company Application No.898/2013 of Company Petition No.136/2005 filed by the Respondent No.1 under Rule 9 read with Rule 29 of the Companies (Court) Rules, 1959.

(2.) The facts necessary for deciding the appeal are briefly delineated hereunder.

(3.) A Company Petition was filed by the Respondents alleging that the Appellant Company is liable to be wound up under Sections 433(c), (e) and (f) read with Section 434(1)(a) and (c) of the Companies Act, 1956 (hereinafter referred to as the " Act"). The Respondents are admittedly shareholders of the Appellant Company and the Respondent No.1 also claims to be a creditor of the Company. By an order dated 16.02.2009, the learned Company Judge admitted the winding up petition and ordered the Appellant Company to be wound up, simultaneously appointing the Official Liquidator as Liquidator of the Company and directing him to take over all the assets and records. The Court also directed the citation to be published in the relevant newspapers.