NEELACHAL ELECTRONICS Vs. SHIVANGI ELECTRONICS PVT

JUDGEMENT

(1.) COPET No. 17 of 2005 has been filed by . Nilachal Electronics and Telecommunication Pvt. Ltd. praying for winding up of the opp.party -company . Shivangi Electronics Pvt. Ltd. Along with the said application for winding up, the petitioner -company filed Misc. Case No. 19 of 2005 making a prayer for an order of stay of operation of the order dated 17.7.2002 passed in T.C. No.77 of 2001 by the Debts Recovery Tribunal, Cuttack and for stay of further proceedings in R.P. No.058/2002/CTC pending before the Recovery Officer, Debts Recovery Tribunal, Cuttack and for a further direction directing the Recovery Officer, Debts Recovery Tribunal, Cuttack not to deliver possession of the property mentioned in the schedule of the said application to any one without leave of this Court.

(2.) ON 6.5.2005 after hearing the applicant, an order was passed directing that further proceedings in R.P. No.058/2002/ CTC pending before the Recovery Officer, Debts Recovery Tribunal, Cuttack shall remain stayed and the property in execution of the certificate for recovery shall not be handed over to the purchaser.

(3.) HEARD learned counsel for the respective parties on the question of recalling/vacating the interim order passed on 6.5.2005.