(Per R.K.Abichandani, J.) The appellant challenges the order dated 30th December, 1999 passed by the learned Company Judge in Misc. Civil Application No. 61 of 1999, holding that since winding up order was passed for the benefit of all the creditors of the company, merely because the dues of the petitioning creditor are paid-up, the winding up order cannot be recalled and directing that the said application made for recalling of the order of winding up shall proceed for hearing after the applicant advertise in Government Gazette and in the same newspaper in which notice of hearing of winding up petition was published.
The appellant had, by the said application, prayed for recall of the winding up order, which was made on 24.7.1999 in Company Petition No. 8 of 1996 on the ground that the dues of the petitioning creditor were settled. Under Section 447 of the Companies Act, an order for winding up of a company operates in favour of all the creditors as if it had been made on the joint petition of the creditors. The learned Company Judge was therefore perfectly justified in holding that the order of winding up cannot be recalled just because the dues of the petitioning creditor were paid up. There is also no substance in the contention that the winding up order was ineffective because at the behest of the applicant time was sought to pay up the petitioning creditors. This appeal is therefore, summarily dismissed.
(R.K.Abichandani,J.)(A.K.Trivedi,J.) */Mohandas