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Judgment
S.K. Keshote, J.—This application is filed u/s 466 of the Companies Act, 1956 read with Rule No. 9 of Company (Court) Rules, 1959 and prayer has been made for recall/revocation of winding-up order dated 16-3-2000 of this Court in S.B. Company Petition No. 48/1999. This order is there on record as Annexure-1. Under this order, the Court has, on the recommendation of the B.I.F.R., ordered for winding up of Shri Shiva Spinners Limited.
The applicants, as admitted by them in para No. 6 of this application, are two out of three promoters of the company (in liquidation) and also its Directors. It is the order passed against the company and they are being the promoters and the Directors thereof could have challenged the same by filing the appeal. Undisputedly the appeal is not filed. Though, this order was appealable. The order was made on 16-3-2000. It would have been published in the newspapers also but this application is filed on 19-4-2003. Otherwise also if what is stated, being the promoters and the Directors, the applicants are interested in revival of the company, the proper remedy would have been to file the petition with the scheme of revival thereof and not this application.
Thus this application fails and the same is dismissed.
As a consequence of the dismissal of this application, the stay application does not survive and the same is also dismissed.