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2008 (2) TMI 618 - HIGH COURT OF GUJARATCompromise and arrangement - Held that:- Having regard to the facts and circumstances of the case and considering the submissions made by the learned advocates appearing for the respective parties and the authorities cited before the Court, the Court is of the view that there is no substance or merit in Company Application preferred by the applicant for convening the meeting of various groups of creditors and equity shareholders for considering the scheme of arrangement in the nature of revival and compromise and hence, this application is rejected. Since the application is rejected, amount of ₹ 10 lakhs deposited by the applicant with the Registry of this Court pursuant to the order dated 10-12-2007 is hereby ordered to be refunded forthwith. Since winding up order is passed by the Court today in Company Petition No. 190 of 2003, no separate order is required to be passed in Company Petition No. 287 of 2003 which is also moved for winding up of the respondent Company. This petition is accordingly disposed of.
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