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2010 (4) TMI 610 - HIGH COURT OF CALCUTTAWinding up - preferential right to purchase the assets - Held that:- The interest of the creditors and the employees as well will be best protected if the sale is held as a going concern in public auction and this Bench in the earlier appeal preferred by the representative of the section of the employees passed such direction. The appellant in their separate appeal could not place any better materials for passing a different order which would be beneficial for all concerned. Similarly, we do not find any reason to pass any order for refund of the money deposited by the appellant as a condition for continuation of the business pursuant to the interim order passed in the proceedings and the learned Single Judge most judiciously observed that the question of return of such money will be considered only after the court was fully satisfied that the company-in-liquidation was not poorer than it was on the date the order of winding up had been passed. We also do not find any reason to vary the order passed by us in the previous appeal disposed of by us making some specific order regarding payment to the landlord and we re-affirm that order as regards the payment to the landlord. Thus no merit in this appeal and the same is dismissed.
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