LAWS(MAD)-1985-7-36

RAMAKRISHNA INDUSTRIES PRIVATE LIMITED Vs. P R RAMAKRISHNAN

Decided On July 09, 1985
RAMAKRISHNA INDUSTRIES PRIVATE LIMITED Appellant
V/S
P.R.RAMAKRISHNAN Respondents

JUDGEMENT

(1.) O.S.A. No. 128 of 1981 is against the order dated August 19, 1981, in Company Application No. 844 of 1981 and O. S. A. No. 189 of 1981 is against the order dated December 7, 1981, in Company Application No. 843 of 1981. Both these applications were filed pending Company Petition No. 30 of 1981, which is a petition filed under sections 433(e) and (f), 434 and 439(1)(b), (c) and (d) of the Companies Act, 1956, for winding up of a company by name Ramakrishna Industries Private Ltd. Company Application No. 843 of 1981 is for the appointment of a provisional liquidator pending disposal of the main company petition and C.A. No. 844 of 1981 is an application filed under rule 11 of the Companies (Court) Rules, 1959, read with Order 39, rule 1, Civil Procedure Code, for an order of injunction restraining the appellants herein from borrowing any moneys from banks, financial institutions or others without the prior permission of the court and from alienating and/or creating any charge or encumbrance over any of the assets of the company in its various enterprises, pending disposal of the winding-up petition. On July 13, 1981, the company petition and also the two C.A. Nos. 843 and 844 of 1981 were posted before the court. The learned judge ordered notice to the company petition for the hearing on August 11, 1981. He also ordered notice to the appellants herein in the application for the appointment of a provisional liquidator and in C.A. No. 844 of 1981 granted an interim injunction and posted the application for further hearing on September 27, 1981. By an order dated August 19, 1981, the learned judge granted the injunction, the operative portion of which is as follows :

(2.) AGAINST this order, O.S.A. No. 128 of 1981 has been filed. By another order dated December 7, 1981, in C.A. No. 843 of 1981, the learned judge appointed the official liquidator as the provisional liquidator pending the winding-up petition. AGAINST this order, O.S.A. No. 189 of 1981 has been filed.

(3.) THE relevant portion of section 443(1) reads :