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2018 (7) TMI 1858 - CALCUTTA HIGH COURTWinding up order recalled - the petition was advertised on or about September 14, 2015, but, according to principal respondent State Bank of India, the company petition did not appear in the list on the returnable date as indicated in the advertisements - Held that:- By the order impugned, the company Court perceived that in the peculiar circumstances that the petition did not appear on the returnable date indicated in the advertisements and the matter remained adjourned for a substantial period of time, a fresh advertisement should have been directed to be published before the matter was considered at the post-advertisement stage. The company Judge cannot be faulted for such perception, since creditors of a company have a say at the post-advertisement stage and the company Judge has the discretion to not wind up the company despite its proven indebtedness to the petitioning-creditor if other creditors demonstrate that the company should not be wound up. On the point of principle, the order impugned cannot be questioned. In the meantime, the appellant herein preferred the present appeal. The date July 9, 2018 indicated in the order impugned by the company Court for fresh directions to be issued as to the advertisements could not adhered to, primarily, on account of the pendency of this appeal. The order impugned does not call for any interference. Since the date for directing fresh advertisements to be published has passed, such directions are issued hereby. The petitioning-creditor will cause advertisements to be published in the same newspapers in which the original advertisements had been published, indicating that the company petition will appear before the company Court on the first available working day two weeks after the date of the publication. The publication of the advertisements has to be simultaneous in the newspapers on a date within two weeks from today. The department is directed to ensure that the company petition appears in the list on the returnable date.
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