ASHOK KUMAR SHARMA, PROPRIETOR OF A.K. BUILDERS AND SUPPLIER AND ANR. Vs. TRIVENI ENGINEERING AND INDUSTRIES AND ANR.

JUDGEMENT

(1.) WE have heard Shri Prashant Kumar, learned Counsel for the Appellant. Shri R.P. Agarwal appears for the Respondents -companies.

(2.) THE Appellant is unsecured creditor of Triveni Engineering and Industries Limited (demerged company), Respondent No. 1.

(3.) THIS special appeal has been filed under Chapter VIII, Rule 5, of the Allahabad High Court Rules, 1952, against the order dated 18.2.2011 passed by hon'ble Company Judge, sitting singly, rejecting Petitioner's application for recalling the order dated 9.9.2010 under Section 391 of the Companies Act, 1956 read with Rule 67 of the Companies (Court) Rules, 1959 by which directions were issued to convene the meetings of the shareholders and the creditors of the company for considering the scheme of demerger by which the company proposed to demerge its business and made certain provisions with regard to assets and liabilities, with Triveni Turbine Limited (Resulting Company) -Respondent No. 2.