TMI Blog2002 (9) TMI 757X X X X Extracts X X X X X X X X Extracts X X X X ..... ion rendered in this company petition shall also govern disposal of other connected company petition being Company Petition No. 1 of 1989. 2. It is a company petition filed by what the petitioner calls themselves to be one of the creditor of the respondent-company. It is a petition essentially filed under section 433( e ) of the Companies Act, 1956, seeking winding up of respondent-company kno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny is based on the plea that the company is in the process of being declared as a sick company under the provisions of SICA. It is further contended that the scheme of rehabilitation is under way and, in that process, the case of these petitioners along with other creditors whether secured or/and unsecured will be taken care of in accordance with the provisions of the Act. It is on this basis, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meaning of section 3(1)( o ) of the Act and is thus, capable of being revived by formulating a rehabilitation scheme, then in such an event, there does not arise any need to enter into a question whether a case under section 433( e ) of the Act is made out or not. It is neither necessary, nor called for in the facts of the case. Needless to observe, whatever outstanding according to the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X
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