TMI Blog1985 (4) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... ntment of an official liquidator is maintainable. The facts that lead up to this petition are that the Kohinoor Mills Co. Ltd. came to be indebted to the petitioners. The petitioners thereupon served the usual statutory notice calling upon the company to pay up its dues. The requisitions in the notice not being complied with, the petitioners filed this petition in July, 1983. On September 28, 1983, consent terms were arrived at. These consent terms provided that the company would pay to the petitioners the amount by instalments (as provided in the consent terms), and in the event of default of payment of the instalments (as provided therein), the petition to stand admitted. A little later, on October 18, 1983, an Ordinance came to be issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Government under this Act, notwithstanding anything contained in the Companies Act, 1956, or in the memorandum or articles of association of such company ( c )no proceeding for the winding up of the textile company or for the appointment of a liquidator or receiver in respect thereof shall lie in any court except with the consent of the Central Government". That the words "shall lie" in clause 8(1)( c ) can only apply to such proceedings which came to be initiated after the ordinance and/or that the Act came into force, but it could never apply to proceedings which were initiated much prior to the Ordinance or the Act coming into force. Mr. Thacker urged that the word "lie" must be understood in common parlance. That the Random Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of Podar Mills Ltd. v. J.K. Synthetics Ltd. [1986] 59 Comp. Cas. 11 (Bom.), and this court had proceeded to pass an order. That the same ratio must apply to the present case and relief must now be granted on this ground. Now, as regards Mr. Thacker's contention is concerned, in view of the language used in section 8 (reproduced above) the contention must be negatived. As regards the case relied upon by Mr. Thacker is concerned, the facts in that case were that Podar Mills Ltd. had several units at several places. Under the Act, what was taken over was only one unit and all other units of the company situate at various places in the country were left untouched. It was in the light of this that an order had come to be passed in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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