MAXWORTH ORCHARDS INDIA LIMITED Vs. SAROJ RAMAKRISHNAN

JUDGEMENT

(1.) THESE appeals arise out of the order dated 5.3.2008 made in C.P.No.119 of 2007 and C.A.Nos.1447 and 2267 of 2007 dismissing the Company Petition filed under Section 391 to 394 of the Companies Act, 1956 and allowing the Company Applications and declining to approve the scheme proposed by the Company in its present form on finding that it is detrimental to the interest of the objectors. By the said Common Order, the learned Judge allowed Company Applications filed by the Objectors.

(2.) WHEN the appeals came up for hearing, learned counsel for appellant has submitted that in view of the appointment of the official liquidator as the provisional liquidator, the appellant is withdrawing the appeals. In view of the endorsement made, the appeals are dismissed as withdrawn. Notwithstanding the dismissal of the appeals as withdrawn, as observed by the learned single Judge, it is always open to the appellant Company to formulate a new scheme with adequate safeguards to protect and promote the interest of the persons. However, there is no order as to costs.