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2008 (2) TMI 633 - SUPREME COURTWinding up - Held that:- Set aside the impugned order of the High Court and remit the matter to it for fresh disposal in accordance with law. The Company Judge proceeded with the matter and directed sale of the assets of the company in favour of the Indian Railways who had made offer of Rs. 140 crores. On 12-3-2007, IA was filed by the appellant giving details of his proposal. By the impugned order the Division Bench dismissed the appeal. Though various grounds have been urged in support of the appeal, the primary ground of challenge is that such summary disposal is indefensible particularly when the appeal is a statutory appeal.
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