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2010 (2) TMI 576 - HC - Companies LawWhether the learned company judge has not bestowed attention to the possible defences that were available to the respondent-company? Held that:- To examine as to whether it is a situation warranting an order to wind up the affairs of the company or otherwise, even if such circumstances are not complied with, there is no question of the court proceeding to pass such an order. Even if the circumstances stipulated in any one of the clauses of section 433 of the Act still it is in the discretion of the court to pass or not to pass an order of winding up of the company. It is for the court to bestow its attention to the object of the provision to pass the order to wind up the affairs of the company which is mainly to protect the public interest and not necessarily from the angle of the company surviving or not. When such aspects are involved in passing an order of wind up in respect of the company with the initial stage as in the impugned order not bestowing such attention, in our opinion, clearly vitiates the law and inevitably we have to set aside the impugned order and it is necessary that the appellant-company is given a proper opportunity to put forth its version before the petition presented under section 433(e) of the Act is examined by the company judge and appropriate orders are passed thereafter and for such purpose the matter is remanded. It is for the parties to appear before the learned company judge and make good their versions. Appeal allowed.
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