ORDER :

V.V.S. Rao, Adv.

Introduction

1. M/s. Krishi Engines Limited (hereinafter called, holding company) was ordered to be wound up by this Court by judgment dated 16.10.2000 passed in C.P. No. 64 of 1997. The Official Liquidator attached to this Court was appointed as Provisional Liquidator u/s 452 of Companies Act, 1956 (for short, the Act). The liquidation process of the holding company is at final stages. M/s. Krishi Foundry Employees Union (hereinafter called, the Union) filed a claim petition with Official Liquidator along with workers of the holding company. The Official Liquidator after adjudication of their claim passed an order dated 15.4.1997 to the effect that the claim of the Union cannot be included in the claim of the workmen of holding company in liquidation against estate of the holding company. When the Official Liquidator adjudicated claim of the union the subsidiary company was not in liquidation. Be it also noted that the order of the Official Liquidator dated 15.4.1997 became final and it was not challenged before any authority much less this Court.

The Present Company Applications

2. M/s. Krishi Foundry Limited (hereinafter referred to as subsidiary) which was i