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2018 (9) TMI 1704 - HC - Companies LawWinding up petition - whether the company could have been ordered to be wound up, when admittedly, the advertisement issued in terms of the said rules, made no reference whatsoever to the changed name? - Held that:- Rule 9 of the said rules, no doubt retains inherent powers in a Company Court to give such directions or pass such orders as may be necessary for the ends of justice or to prevent the abuse of the process of the Court. As noted earlier, this is not a case of some inconsequential defect in the advertisement. Rather this is a case where the advertisement does not even reflect the changed and correct name of the company. Therefore, the contention that this is a case of deemed exercise of inherent powers, cannot be accepted. For all the aforesaid reasons, we dispose of this appeal making the following order : (a) The impugned order dated 21st June, 2018 is set aside; (b) The Company Petition No. 829 of 2003 is restored to the file of the learned Company Judge, so that the petition may proceed from the stage of publication of advertisement, this time in the correct name of “Splendour Gems Limited” (formerly known as “Beautiful Diamonds Limited”); (c) We make it clear that we have not examined the merits of the matter, therefore, all contentions of all parties are left open for decision by the learned Company Judge; (d) Parties to appear before the learned Company Judge on 15th October, 2018 at 11.00 a.m. and produce an authenticated copy of this order.
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