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2010 (1) TMI 569 - HIGH COURT OF RAJASTHANStay of the winding up proceedings - Held that:- The Company (in liquidation) was ordered to be wound up in the year 1983 and the present application has been filed after a period of about 25 years which itself shows that this application has been filed only to block the sale of the land of the Company(in liquidation). The necessity to sell the land is that the claims of the persons against the Company (in liquidation) have to be satisfied along with the interest which has yet not been paid. The applicant has also not been able to make out as per the Audited Balance Sheets filed by him before the Registrar of Companies for the years 2007 to 2009 that he has invested in the Company (in liquidation). Thus the applicant has not made out a case for stay of the winding up proceedings of the Company (in liquidation) under section 466 of the Act of 1956.
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