2003 (1) TMI 524 - HC - Companies Law

Summary

The High Court of Madhya Pradesh dismissed a company petition filed by a creditor under section 433(e) of the Companies Act, as the respondent company was declared a sick industrial company by BIFR and a final winding up order was pending. The petitioner was directed to submit their claim before the Official Liquidator in the winding up proceedings. The court declined to entertain the petition, stating that the petitioner's rights were secured by the court in the winding up process.