Judgment

BHAGWATI, J. (Majority view) :- These three appeals by special leave raise a short but interesting question of law relating to the right of workmen employed in a company to appear and oppose a petition for winding up of the company. The controversy between the parties arises out of a petition for winding up a private limited company called Ramakrishna Industries (P.) Limited (herein- after referred to as a company). The Company has three units, one a textile mill in the name of Jotie Mills which employs about 500 workmen, another, a workshop for manufacture of textile and other machinery which employs about 400 workmen and the third a printing press which brings out a Tamil daily, called "Nav India and employs about 100 workmen. It is a closed company in which there are two groups of shareholders, one group consisting of respondents Nos. 1 to 5. and the other consisting of respondents Nos. 7 to 14. Respondents Nos. 1 to 5 hold 608 shares and respondents Nos. 7 to 14, 687 shares while the remaining 300 shares belong to a Trust in which both the groups are equally represented on the Board of Trustees. It appears that a serious dispute arose between respondents Nos. 1 to 5 on the one hand and respondents Nos. 7 to 14, on the other in regard to the management of the affairs of the Company and since the dispute could not be settled amicably, respondents Nos. 1 to 5 filed a petition for winding up the Company on two grounds set out in Clauses (e) and (f) of Section 433 of the Companies Act, 1956. One ground was that 78 the Company is unable to pay its debts and the other was that it is just and equitable that the Company should be wound up. The winding up petition was filed by respondents Nos. 1 to 5 not only as contributories but also as creditors. of the Company. Immediately on filing the winding up petition on 13th July, 1981, respondents Nos. 1 to 5 submitted an application, being company application No. 844 of 1981, for an interim injunction and on this application, an ex parte order was made by the learned Company judge restraining the company which was respondent No. 6 in the winding up petition as also respondents Nos. 7 to 14 from borrowing any monies from banks, financial institutions or others without the prior permission of the Court and from alienating and / or creating any charge or encumbrance over any of the assets of the Company in its various enterprises. The immediate consequence of this ex parte order of injunction was that the Jotie Mills Employees Co-operative Store stopped issuing any provisions or supplies to the workmen from 18th July, 1981 and the workmen were also unable from 23rd July, 1981 to enjoy the benefits under the Employees State Insurance Scheme. The workmen also apprehended that on account of the ex parte order of injunction, they may not be We to get their wages which were due to be paid on 7th August, 1981. Now some of the workmen were members of the National Textile Workers Union, some others were members of the Coimbatore District National Textile Employees Union while still some others were members of the Coimbatore District Engineering Workers Union. The Coimbatore- District National Textile Employees Union with a view to protecting the interests of its members made an application, being company application No. 880/81 on 28th July, 1981 for impleading itself as a respondent. The Coimbatore District Engineering Workers Union also made a similar application to the Company Judge on the same day, being Company Application No. 881 of 1981. So also the National Textile Workers Union made an application, being company application No. 883 of 1981, to the Company Judge on 29th July 1981 praying that it may be permitted to intervene in the winding up petition and that the ex parte order of injunction may be vacated. Respondents Nos. 1 to 5 filed their affidavit in reply to these three applications and the principal contention raised by them was that the National Textile Workers Union, the Co