The admitted case of the appellant is that he, along with his family members, held over 95% shares of the Company in question and they were in control of the affairs of the Company till the year 2006. At this stage, the appellant and his family members sold the share holdings to Sri S.N. Ladhani and his family members to the extent that the latter became share holders of 98.76% of the shares and the share holding of the family members of the appellant was reduced to 1.24% only. It is admitted by the learned Counsel for the appellant that at present the appellant himself has no share holding in the Company. At the instance of respondent No.1 Mohan Singh, who had filed a winding up petition (being COP No.56/2008) an order dated 18.12.2008 was passed by the learned Company Judge, directing the Company to be wound up and the Official Liquidator was directed to take possession of the affairs of the Company in question being M/s. S. Manikya Plastichem Private Limited.

2. Nearly five years after such order was passed, in the year 2013, a Company application was filed by the appellant with the prayer for recalling the order dated 18.12.2008 whereby direction for winding up of the Co